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- W1660642307 abstract "While theory does not predict an unambiguous relationship between finance and growth, over the past 20 years, economists have accumulated a substantial body of empirical evidence that financial sector deepening is a critical part of the economic development process. At the same time, the banking crisis literature has identified rapid credit growth as good predictor of systemic banking distress. Both findings are consistent with the theoretical literature, as the growth benefits of finance rely on maturity transformation and agency relationships, which makes it susceptible to fragility. This is a very important point that is often ignored both by analysts and policy makers." @default.
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- W1660642307 date "2014-11-24" @default.
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- W1660642307 title "Finance and Growth: Too Much of a Good Thing?" @default.
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