Too Much Finance
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Too Much Finance
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Author : Mr.Jean-Louis Arcand
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-01
Too Much Finance written by Mr.Jean-Louis Arcand and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-01 with Business & Economics categories.
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.
Too Much Finance For Whom
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Author : Rachel Cho
language : en
Publisher:
Release Date : 2022
Too Much Finance For Whom written by Rachel Cho and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Economic development categories.
We revisit the causal implications of financial deepening for economic development and banking crises adopting a heterogeneous difference-in-difference framework. Using a large panel dataset over the past six decades we demonstrate that very high levels of financial development, proxied by credit/GDP, are neither associated with lower economic growth in the long-run nor with a higher short-run propensity of triggering financial crises due to 'credit booms gone bust' cycles or unfettered capital inflows. We then investigate the 'too much finance' narrative at intermediate levels of financial development and, again, fail to detect any evidence for detrimental long-run growth effects. We further demonstrate that for this group of (emerging) economies elevated levels of financial development do not hamper a shift from capital accumulation to an innovation-based ('modern') growth paradigm, or their structural transformation away from the primary sector. There are however indications that 'too much finance' for this group can increase the propensity for banking crises through capital inflows and commodity price movements. Hence, our analysis can confirm elements of a 'too much finance' effect albeit (i) not for advanced economies at the top of the credit/GDP distribution but those at more intermediate levels, and (ii) even for these countries seemingly without any negative implications for their long-term growth trajectories.
Does Too Much Finance Harm Economic Growth
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Author : Siong Hook Law
language : en
Publisher:
Release Date : 2013
Does Too Much Finance Harm Economic Growth written by Siong Hook Law and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Further Statistical Debate On Too Much Finance
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Author : William R. Cline
language : en
Publisher:
Release Date : 2015
Further Statistical Debate On Too Much Finance written by William R. Cline and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
How Much Money Is Too Much Money
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Author : Rishabh Behl
language : en
Publisher: Notion Press
Release Date :
How Much Money Is Too Much Money written by Rishabh Behl and has been published by Notion Press this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
The book flips the coin and talks about "How to spend money". Most of the people are not aware of handling their income earnestly. The author has studied and analyzed people's spending habits and written this book. Readers will learn about: How to invest? How to change spending habits, why loans are not always the only way to achieve your goals, like buying your dream house; valuing your goals with a practical solution to achieve it. We have carved a solution for such kinds of problems without becoming a financial nerd and still end up with a conclusive story at the end of the book.
Does Too Much Finance Harm Economic Growth
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Author : Siong Hook Law
language : en
Publisher:
Release Date : 2017
Does Too Much Finance Harm Economic Growth written by Siong Hook Law and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This study provides new evidence on the relationship between finance and economic growth using an innovative dynamic panel threshold technique. The sample consists of 87 developed and developing countries. The empirical results indicate that there is a threshold effect in the finance-growth relationship. In particular, we find that the level of financial development is beneficial to growth only up to a certain threshold; beyond the threshold level further development of finance tends to adversely affect growth. These findings reveal that more finance is not necessarily good for economic growth and highlight that an “optimal” level of financial development is more crucial in facilitating growth.
Financial Innovation
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Author : Michael Haliassos
language : en
Publisher: MIT Press
Release Date : 2013
Financial Innovation written by Michael Haliassos and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Prominent economists consider the role of financial innovation in economic crises.
Determinants Of The Duration Of Economic Recoveries
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Author : Vítor Castro
language : en
Publisher:
Release Date : 2022
Determinants Of The Duration Of Economic Recoveries written by Vítor Castro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This paper explores the effect of financial development on the duration of economic recoveries, considering a sample of 414 economic recoveries observed in 67 countries during the period 1989-2019. We define the duration of economic recovery, as the time it takes the economy to return to its potential output level. Using a continuous-time Weibull duration model, we find that a higher level of financial development tends to prolong the duration of economic recovery. Therefore, our findings indicate that a too highly developed financial system might delay a full recovery after a recession, supporting the notion that there is "too much finance". In particular, greater size of the underregulated sector of non-banking financial institutions (shadow banks) prolongs the economic recovery. Moreover, the emerging economies, with their generally poorer regulatory frameworks, are more negatively affected by "too much finance". Underlining the importance of an effective regulation of the entire financial system, our results also confirm that a higher regulátory quality limits the negative consequences of "too much finance".
Financial Development And Innovation Led Growth
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Author : Stylianos Asimakopoulos
language : en
Publisher:
Release Date : 2018
Financial Development And Innovation Led Growth written by Stylianos Asimakopoulos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We show that the expansion of financial sector may hurt innovative activities and hence the innovation-led growth, using data on 50 countries over the 1990-2016 period. Countries with higher level of financial development are found to have a smaller positive or insignificant effect on innovation. The marginal effect of innovation on growth is a decreasing function of financial development. Using a dynamic panel threshold method we re-examine the possible non-linearity between finance, innovation, and growth. We find that innovation exhibits an insignificant effect on output growth when credit to the private sector exceeds the level of 60% as a share of GDP. These results are not driven by banking crises, the long run effect of 2007-2008 financial crisis, or the ongoing European sovereign debt crisis.
The Finance Curse
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Author : Nicholas Shaxson
language : en
Publisher: Random House
Release Date : 2018-10-11
The Finance Curse written by Nicholas Shaxson and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-11 with Business & Economics categories.
This is a book that none of us can afford to ignore – an agenda-setting, campaigning investigation that shows how global finance works for the few and not the many. ** A Financial Times Book of the Year ** ‘Essential reading’ YANIS VAROUFAKIS We need finance – but when finance grows too big it becomes a curse. The City of London is the single biggest drain on our resources, sucking talent out of every sphere, siphoning wealth and hoovering up government time. Yet to be ‘competitive’, we’re told we must turn a blind eye to money laundering and appease big business with tax cuts. Tracing the curse back through economic history, Nicholas Shaxson uncovers how we got to this point. Moving from offshore tax havens to the bizarre industry of wealth management, he tells the explosive story of how finance established a stranglehold on society – and reveals how we can begin to break free. ‘A radical, urgent and important manifesto for improving our country’ Oliver Bullough, Observer ‘Superbly written... A must-read’ Misha Glenny, author of McMafia ‘Hard-hitting, well written and informative’ Financial Times