Škare, Marinko; Sinković, Dean; Porada-Rochoń, … - In: Journal of business economics and management 20 (2019) 2, pp. 294-310
Studies on the finance-growth link use different proxy variables for financial development. Among the most used is the total credit share in the GDP. Previous empirical studies show to be sensitive to the choice of the finance proxy indicator. Total credit share in the GDP appears biased in...