Public debt and financial development: A theoretical exploration

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Date

2012

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Publisher

Elsevier Science Sa

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Department of Business
In parallel to our vision and mission statements, we offer graduate programs in Business Administration, Finance, Healthcare Management fields, either in Turkish or English as medium of instruction. Programs in English appeal to foreign students as well as Turkish ones for that we offer education through the latest that science has reached. We also offer online Master’s programs to students who cannot attend to our full-time programs.

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Abstract

In countries where the government is the major recipient of bank lending, public debt is likely to harm financial development. Moreover, the lower the financial depth, the greater the adverse effects of public borrowing on financial development and macroeconomic outcomes. (C) 2012 Elsevier B.V. All rights reserved.

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Keywords

Financial development, Credit to government, Public debt

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Citation

28

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Q3

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Volume

115

Issue

3

Start Page

348

End Page

351

URI

https://doi.org/10.1016/j.econlet.2011.12.040
 https://hdl.handle.net/20.500.14411/1388

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