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What is happening to the impact of financial deepening on economic growth?

Wachtel, Paul et al.
NYU Faculty Digital Archive · Papers
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robustness
Although the finance-growth relationship is now firmly entrenched in the empirical literature, we show that it is not as strong in more recent data as it was in the original studies with data for the period from 1960 to 1989. We consider two related explanations. First, excessive financial deepeni
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