Non-linéarités dans la relation entre finance et croissance

Ugo Panizza

Revue d'économie financière, 2017, vol. N° 127, issue 3, 83-94

Abstract: This paper reviews the empirical literature on the links between finance and growth with a special focus on the empirical literature that has shown that the marginal contribution of financial depth to economic growth becomes negative in countries with large financial sectors (the ?too much finance? result). It then assesses the empirical and theoretical validity of recent criticisms to this literature and concludes by discussing avenues for future research aimed at identifying the channels through which a very large financial sector can slow down economic growth. Classification JEL: F36, G10, O16, O40.

JEL-codes: F36 G10 O16 O40 (search for similar items in EconPapers)
Date: 2017
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