Author
Bahadır, Berrak, Valev, N.
Publication Date
2015-07
Publication Place
-
Elsevier
Subject
Financial development, Convergence, Institutions
Type
Periodical
Language
English
Digital
Yes
Manuscript
No
Library
Özyeğin University
Library Asset ID
0378-4266
Record ID
5d8e6263-d04c-4f88-9a07-5fda4ddc6f91
Library Location
Economics
Date
2015-07
Sample Text
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.
DOI
10.1016/j.jbankfin.2015.03.001
Cilt
56
