TY  - BOOK
AU  - Khan,Mohsin S.
AU  - Senhadji,Abdelhak S.
AU  - Smith,Bruce D.
TI  - Inflation and financial depth
T2  - IMF working paper
U1  - 332.41 21
PY  - 2001///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - INFLACION
KW  - MERCADOS FINANCIEROS
N1  - Bibliografía: p. 28-30
N2  - There is now a substantial theoretical literature arguing that inflation impedes financial deepening. Furthermore, it has been hypothesized that the relashionship is a nonlinear one, in that there is a threshold level of inflation below which inflation has a positive effect on financial depth, but above which the effect turns negative. Using a large cross-country sample, empirical support is found for the existence of such a threshold. The estimates indicate that the threshold level of inflation is generally between 3 and 6 percent a year, depending on the specific measure of financial depth that is used
ER  -