Law, Siong Hook; Azman-Saini, W.N.W.; Ibrahim, Mansor H. - In: Journal of Banking & Finance 37 (2013) 12, pp. 5373-5381
threshold effect in the finance-growth relationship. Specifically, we found that the impact of finance on growth is positive and … significant only after a certain threshold level of institutional development has been attained. Until then, the effect of finance … institutional quality, thus supporting the idea that better finance (i.e., financial markets embedded within a sound institutional …