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Too Much Finance or Statistical Illusion: A Comment

Enrico Berkes (), Ugo Panizza and Jean-Louis Arcand ()

No 12-2015, IHEID Working Papers from Economics Section, The Graduate Institute of International Studies

Abstract: A recent policy brief from Peterson Institute suggests that "Too Much Finance" result may be an artifact of spurious attribution of causality. While more work needs to be done to understand the links between finance and growth and explore the drivers of possible non-monotonicities, this note shows that the too much finance result is robust.

Pages: 10 pages
Date: 2015-06-26
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