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- W2072605011 abstract "We show that credit levels relative to GDP and other measures for financial development tend to converge across countries over time. The results are obtained using a broad sample of countries over many years and controlling for the quality of country-level institutions, the efficiency of financial institutions, and a range of macroeconomic variables. While we find evidence for convergence in the broad sample, we show that it levels off when countries reach a medium level of financial development. At high levels of financial development, convergence slows down even more and becomes negligible." @default.
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- W2072605011 date "2015-07-01" @default.
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- W2072605011 title "Financial development convergence" @default.
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- W2072605011 doi "https://doi.org/10.1016/j.jbankfin.2015.03.001" @default.
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