Özatay, Fatih; Sak, Güven - In: Emerging Markets Finance and Trade 38 (2002) 5, pp. 6-22
This study shows that the financial reform process, which started in 1980, considerably deepened the financial system. However, the impact of this deepening on credit growth was extremely mild, if not insignificant. We further show that the growth of credit stock, not the deepening of the...