significantly lower aggregate volatility. This relationship is also highly non-linear starting from a low level of financial … development the reduction in aggregate volatility by financial deepening is far more significant than it is when the financial … market is more developed. We build a fully- edged neoclassical growth model with an endogenous financial market of credit …

Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has … finance on growth is generally higher in high-income economies, allowing for intra-group variations reveals scenarios where …