Financial sector: does size matter?
AbstractHuge empirical literature suggests the strong positive relationship between economic growth and size of financial sector. We document that this relationship is not robust, while the efficiency of financial sector measured by interest rate spread is strongly related to current and subsequent economic growth.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 33 (2013)
Issue (Month): 3 ()
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financial sector efficiency; interest rate spread;
Find related papers by JEL classification:
- E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
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