’s theory of functional finance (FF). A thorough discussion of this concept is helpful in reconsidering the debate on the nature … growth, deflation, and weak public finances. …

the empirical literature on the finance-growth nexus. It highlights an array of statistical issues casting serious doubts … spur a declining economic growth. Incidentally, this work questions the issue of measuring economic regularities through … expansion and economic growth is non-linear. However, our estimates document an overall negative effect of expanding credit to …