Series: IMF Working Papers
Author(s): Enrico Berkes , Ugo Panizza , and Jean-Louis Arcand
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2012
Keywords: Financial development, Finance-growth nexus, gdp growth, correlation, gdp per capita, standard errors
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too muc...