Denizer, Cevdet; Iyigun, Murat F.; Owen, Ann L. - Economics Research, World Bank Group - 2000
Countries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption … the financial system is important in explaining consumption, and investment volatility. The proportion of credit provided … to the private sector, best explains volatility of consumption, and output. The authors generate their main results using …