-to-value ratios and local currency reserve requirements increase lending growth in the United States through the U.S. branches and …

growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to … important variables of the finance and growth literature. Our empirical analysis above all supports Schumpeter’s view that … credit growth supports GDP growth while saving is irrelevant for credit growth and GDP growth. In sum, a correct …