Growth and Volatility

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Cyclical Fiscal Policy, Credit Constraints, and Industry Growth (2014, background): “A more countercyclical scal policy could reect a higher degree of nancial development in the country.(34) And nancial development in turn is known to have a positive e¤ect on growth, particularly for industries that are more dependent on external nance (Rajan and Zingales, 1998).”
Is More Finance Better? Disentangling Intermediation and Size Effects of Financial Systems (2014, unknown): “The opposite holds if precautionary savings, creative destruction, liquidity constraints or high-return high-risk technologies are taken into account (Imbs, 2007).”
Macroeconomic Fluctuations, Inequality, and Human Development (2012, background): “See the discussion above and Ramey and Ramey (1995), Stiglitz et al. (2006), and Imbs (2007).”