Verification of the hypothesis "too much finance" in the polish economy
Journal Title: Central European Review of Economics and Finance - Year 2016, Vol 12, Issue 2
Abstract
The last global financial crisis has affected the changes in the architecture of the global financial system. This aspect is particularly important and valid starting point for a deeper and broader analysis of the impact of the boom of the financial sector to economic growth. The aim of the study is to identify the optimal level of bank credits to the private sector to GDP in the Polish economy, over which the economic growth rate begins to decline. In this paper we estimate parameters of the dynamic growth model in order to find an optimal level of the financial depth. Restrictions are imposed and verified on parameters concerning the level and square of financial depth. Results of estimation show that the optimal level of financial depth equals 0.44 for Poland. (original abstract)
Authors and Affiliations
Wojciech Grabowski, Iwona Maciejczyk-Bujnowicz
Keywords
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