This paper investigates the causes of the "vanishing effect of finance" detected in recent studies. The results highlight that the negative effect of the financial system on growth is mainly driven by advanced economies, whereas finance is still beneficial for income increases in developing...

"In this paper, we examine the empirical relationship between financial repression, financial development, and growth. Theory has developed in which financial repression and growth are linked. The main contribution of this paper is to look at two parts. First, what, if any, is the empirical link...