Explaining the nonlinear effects of financial development on economic growth
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The main reason for the results could be that financial development directed towards investment activities promotes economic growth, but consumption loans move in the opposite direction.
“The main reason could be that financial development directed towards investment activities promotes economic growth, but consumption loans move towards opposite direction (Hung, 2009).”
From How Does Financial Development Impact Economic Growth in Pakistan?: New Evidence from Threshold Model (2020) · cites this paper as Hung, 2009
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Does too much finance harm economic growth?
Law, S. H., & Singh, N. (2014) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2013.12.020 · Cited by 789 · see citing works
Asante, G. N., Takyi, P. O., & Mensah, G. (2023) · Development Studies Research · doi:10.1080/21665095.2022.2156904 · Cited by 72 · see citing works
“For instance, Hung (2009) provided an empirical investigation on the non-linear e ff ect of fi nancial development on economic growth in China by developing a model that incorporates non-productive consumption loans with productive investment loans in a standard model of asymmetric information.”
BackgroundDepartment of Management Sciences, C. U., TARIQ, R., KHAN, M. A., & RAHMAN, A. (2020) · The Journal of Asian Finance, Economics and Business · doi:10.13106/jafeb.2020.vol7.no8.161 · Cited by 51 · see citing works
“The main reason could be that financial development directed towards investment activities promotes economic growth, but consumption loans move towards opposite direction (Hung, 2009).”
BackgroundYounsi, M., & Nafla, A. (2019) · Journal of the Knowledge Economy · doi:10.1007/s13132-017-0453-5 · Cited by 58 · see citing works
Finance-growth nexus in sub-Saharan Africa
Machado, C. M. D. C., Saraiva, A. F. M. G., & Vieira, P. D. D. (2021) · South African Journal of Economic and Management Sciences · doi:10.4102/sajems.v24i1.3435 · Cited by 17 · see citing works
“…the scarce ‘cream-skimming’ resources from productive sectors (e.g. Tobin 1994), (2) the dominance of consumption credit over investment credit (e.g. Hung 2009), (3) the low quality levels of political, legal and economic institutions (e.g. Slesman et al. 2019), (4) unbalanced growth in the…”
Background
- Authors
- Hung, F.-S.
- Affiliations
- National Taipei University (TW)
- Corresponding author
- Hung, Fu-Sheng
- ORCID
- Hung, Fu-Sheng
- Venue
- Journal of Economics
- Published
- 2009-01-15
- Volume
- 97
- Issue
- 1
- Pages
- 41-65
- ISSN
- 0931-8658 (ISSN-L)
- OpenAlex
- W2087636096
- Cited by
- 51
- References
- 0
- Citations by year
- 2026: 4 · 2025: 3 · 2024: 5 · 2023: 7 · 2022: 2 · 2021: 3 · 2020: 5 · 2019: 2 · 2018: 2 · 2017: 6 · 2016: 1 · 2015: 2 · 2014: 3 · 2013: 3
- FWCI
- 2.44
- Type
- journal article
- Language
- en
- Open access
- closed
- Licence
- www.springer.com/tdm (tdm)
- Locations
- Journal of Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic theories and models
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Keywords
- financial development, economic growth, nonlinear effects, information asymmetry, consumer credit, finance-growth relationship
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