Financial development, real sector, and economic growth
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Negative effects on economic growth are more likely to dominate when the financial sector is too large.
“The subsequent negative effects on economic growth are more likely to dominate when the financial sector is too large, giving support to the hypothesis that 'too much finance harms economic growth'.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ductor & Grechyna 2015
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“…argument relates to financial development, resulting from financial innovation and liberalisation, with the increase of systemic risk which, by exacerbating macroeconomic volatility, impacts negatively on economic growth (see, for instance, Arcand et al. 2015; Ductor & Grechyna 2015; Popov 2017).”
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- Authors
- Ductor, L., & Grechyna, D.
- Affiliations
- Middlesex University London (GB)
- Corresponding author
- Grechyna, Daryna
- Venue
- International Review of Economics & Finance
- Publisher
- Elsevier BV
- Published
- 2015-05
- Volume
- 37
- Pages
- 393-405
- ISSN
- 1059-0560 (ISSN-L)
- OpenAlex
- W2082770424
- Cited by
- 347
- References
- 59
- Citations by year
- 2026: 27 · 2025: 27 · 2024: 33 · 2023: 55 · 2022: 46 · 2021: 43 · 2020: 42 · 2019: 28 · 2018: 22 · 2017: 13 · 2016: 7 · 2015: 4
- FWCI
- 41.99
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- International Review of Economics & Finance (publishedVersion)
- Middlesex University Research Repository (Middlesex University Of London) (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Funders
- Faculty Research Development Fund of the University of Auckland (3704105)
- Spanish Ministery of Education
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Keywords
- financial development, economic growth, private credit, credit growth, developed and developing countries
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