A new database of World Bank loans to support financial sector development is used to investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. Self-selection is accounted for with...

Evidence based on firm-level data from 89 countries with updated country-level data on financial structure suggests that in low-income countries, labor growth is more rapid in countries with a higher level of private credit/GDP. This positive relationship with private credit is especially...

In this article the authors use quantile regressions to assess the relationship between economic and financial development at each percentile of the distribution of economic development. Thus, the quantile regressions provide information on how the associations between economic development and...