Too much bank lending slows economic growth, OECD says

Wed, 17 Jun 2015

By Pattrick Smellie June 18 (BusinessDesk) - The growth of bank lending has gone too far and has become a drag on economic growth, says ground-breaking economic analysis by the Organisation for Economic Cooperation and Development. The Paris-based 'rich countries' club', covering 34 nations including New Zealand, published the new findings overnight, saying that for every 10 percent of gross domestic product increase in bank credit, there was a corresponding 0.3 percent reduction in annual GDP growth rates. It suggests that while wides...

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