Financial sector: does size matter?
Huge 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.
Volume (Year): 33 (2013)
Issue (Month): 3 ()
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- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010.
"Financing Development: The Role of Information Costs,"
American Economic Review,
American Economic Association, vol. 100(4), pages 1875-1891, September.
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- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2009. "Financing development : the role of information costs," Working Paper 08-08, Federal Reserve Bank of Richmond.
- Jeremy Greenwood & Juan M. Sánchez & Cheng Wang, 2010. "Financing development: the role of information costs," Working Papers 2010-024, Federal Reserve Bank of St. Louis.
- Jeremy Greenwood, 2007. "Financing Development: The Role of Information Costs," 2007 Meeting Papers 171, Society for Economic Dynamics.
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