Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/184715 
Authors: 
Year of Publication: 
2017
Series/Report no.: 
Graduate Institute of International and Development Studies Working Paper No. HEIDWP12-2017
Publisher: 
Graduate Institute of International and Development Studies, Geneva
Abstract: 
This paper reviews the empirical literature on the links between finance and growth with a special focus on the empirical literature that has shown that the marginal contribution of financial depth to economic growth becomes negative in countries with large financial sectors (the "too much finance" result). It then assesses the empirical and theoretical validity of recent criticisms to this literature and concludes by discussing avenues for future research aimed at identifying the channels through which a very large financial sector can slow down economic growth.
Subjects: 
financial development
finance-growth nexus
too much finance
JEL: 
G10
O16
F36
O40
Document Type: 
Working Paper

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