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|z 9781475504668
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|a 1018-5941
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|a BD-DhAAL
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|a Berkes, Enrico.
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|a Too Much Finance? /
|c Enrico Berkes, Ugo Panizza, Jean-Louis Arcand.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (50 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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 much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.
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|a Mode of access: Internet
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|a Arcand, Jean-Louis.
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|a Panizza, Ugo.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/161
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/161/001.2012.issue-161-en.xml
|z IMF e-Library
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