Ismihan, MustafaOzkan, F. GulcinDepartment of Business2024-07-052024-07-052012280165-176510.1016/j.econlet.2011.12.0402-s2.0-84856028125https://doi.org/10.1016/j.econlet.2011.12.040https://hdl.handle.net/20.500.14411/1388In 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.eninfo:eu-repo/semantics/openAccessFinancial developmentCredit to governmentPublic debtArticleQ31153348351WOS:000304637100006