[3][4] The paper provides empirical evidence for the hypothesis that there is a point after which a growing financial sector starts having a negative impact on economic growth.
The article features the same quote by James Tobin as the working paper: "We are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services, into activities that generate high private rewards disproportionate to their social productivity.
"On 26 September 2012 the BBC World Service programme Business Daily interviewed one of the authors - Ugo Panizza - on the issue of too much finance for a broadcast on the rise of digital currencies.
[6] On May 26, 2015, the Financial Times published a widely read column by Martin Wolf[7] that discusses the original findings of the "Too much finance?"
However, only Berkes was at the IMF when the paper was originally written, Arcand and Panizza are professors of Economics at the Graduate Institute in Geneva.