Public Debt and Financial Development: a Theoretical Exploration
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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, Financial sector; credit to government; public debt., financial development, Macroeconomic theory (monetary models, models of taxation), public debt, credit to government
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OpenCitations Citation Count
33
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Volume
115
Issue
3
Start Page
348
End Page
351
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CrossRef : 30
Scopus : 30
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Mendeley Readers : 78
SCOPUS™ Citations
30
checked on Jun 13, 2026
Web of Science™ Citations
30
checked on Jun 13, 2026
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1
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