Law, Siong Hook; Azman-Saini, W.N.W.; Ibrahim, Mansor H. - In: Journal of Banking & Finance 37 (2013) 12, pp. 5373-5381
significant only after a certain threshold level of institutional development has been attained. Until then, the effect of finance … development in countries with distinct levels of institutional development differs. The results demonstrate that there is a … threshold effect in the finance-growth relationship. Specifically, we found that the impact of finance on growth is positive and …