There is growing evidence that the impact of financial development on economic growth might be non-linear and hump … study shows that the finding of a non-linear, hump-shaped impact of financing on economic growth is robust to controlling …, while credit to households a negative impact on growth, even after allowing for non-linearities. (3) Debt-securities and …

interest rates and low inflation, and when ensuing prolonged and subdued growth undermines potential growth via labour … of economic slack and its impact on inflation, crisis-related hit to potential output and neutral interest rates. However … stimulus should be accompanied by structural reforms to boost potential growth and neutral rates. Evidence on hysteresis …