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The changing face of financial development

Panicos Demetriades () and Peter Rousseau ()

Economics Letters, 2016, vol. 141, issue C, 87-90

Abstract: We provide evidence from a large number of countries which demonstrates the changing nature of the finance–growth nexus. Specifically, we show that financial depth is no longer a significant determinant of long-run growth. Instead we find evidence to suggest that certain financial reforms have sizeable growth effects, which can be positive or negative depending on how well banks are regulated and supervised.

Keywords: finance–growth nexus; Bank regulation; Bank reforms (search for similar items in EconPapers)
Date: 2016
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Working Paper: The Changing Face of Financial Development (2015) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:141:y:2016:i:c:p:87-90

DOI: 10.1016/j.econlet.2016.02.009

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