| Autor: |
MOHSIN S. KHAN, ABDELHAK S. SENHADJI, BRUCE D. SMITH |
| Předmět: |
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| Zdroj: |
Macroeconomic Dynamics; Apr2006, Vol. 10 Issue 2, p165-182, 18p |
| Abstrakt: |
There is now a substantial theoretical literature arguing that inflation impedes financial deepening. Furthermore, it has been hypothesized that the relationship is a nonlinear one, in that there is a threshold level of inflation below which inflation has a positive effect on financial depth, but above which the effect turns negative. Using a large cross-country sample, empirical support is found for the existence of such a threshold. The estimates indicate that the threshold level of inflation is generally about 3–6 percent per annum, depending on the specific measure of financial depth that is utilized. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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