TABLE 3: Financial Development in Low-, Middle-, and High-Income Countries
Income Groups
Indicator
Low-Income
Middle-Income
High-Income
Private credit
0.25
0.63
1.08
Liquid liabilities
0.37
0.57
0.93
Commercial versus central bank
0.77
0.89
0.94
Note:
Note: Uses exact country classifications from Rioja & Valev (2003).