This paper empirically reassesses the long-debated relationship between financial structure and economic growth …. Specifically, we examine whether the effect of financial structure on economic growth is affected by the financial structure … disproportion, banking crisis, economic volatility, and level of financial development. We employ the generalized method of moments …

economic growth. Based on panel data from 98 developed and developing countries, we show that for smooth economic development …, balanced growth of both the industrial and financial sectors is required. Our results are consistent with existing theoretical … relationship between financial development and economic growth …

This paper re-examined the relationship between financial development and economic growth in Nigeria. Unlike existing … studies, we attempted to assess the information content of non-linearities in the finance–growth nexus for Nigeria. We also … attempted to inventively gauge the impact of financial reforms on the Nigerian economy particularly in terms of economic growth …

evidence in support of a finance-led growth is weak once we take into account the dynamics of financial development and growth … banking sector. Stock market development tends to cause growth, while a reverse or bi-directional causality is present between … banking sector development and output growth. We also bring evidence that causality patterns differ between market-based and …

towards economic growth and economic prosperity of developing countries in general, the Western Balkan countries in particular …

Financial markets help to foster growth and productivity through their role in mobilizing savings to finance investment … development, growth and equity. The focus is on the Brazilian case, but we also aim at contributing to a broader discussion on the … growth record, which resembles Latin America’s average regarding pace and sources of growth; b) recent changes in financial …

Does financial development enable growth in developing countries? We find evidence for this in sub-Saharan Africa, a … region where there is an urgent need to promote growth. Using a modern time series methodology and data for 22 countries over … aggregates. This suggests that monetization plays a distinct role in capital accumulation and growth in many of these countries …

financial sectors. One of these effects is the 'growth cost' of excessive finance, which reports that the finance-growth … relationship is non-monotonic, and that a credit threshold of above 100% of GDP costs economic growth. Since most industrialized … findings can hardly be overstated. Moreover, if a tipping point in the finance-growth relationship could be established beyond …