The phrase "a growing effect" is correct and usable in written English.
It can be used to describe an impact or influence that is increasing over time or becoming more significant.
Example: "The new policy has had a growing effect on employee morale, leading to higher productivity levels."
Alternatives: "an increasing impact" or "a rising influence".
Even more important, stockmarkets are having a growing effect on consumer confidence, and therefore on the economy itself.
Considering suppliers and evaluation and selection of them: The supplier selection has been acknowledged an important and considerable challenge in supply chain and it has a growing effect on the success or failure of a business (Bevilacqua et al. 2006).
The supplier selection problem is considered here, it has been acknowledged an important and considerable challenge in supply chain and it has a growing effect on the success or failure of a business (Bevilacqua et al. 2006).
As more and more news discovery occurs on Facebook, what people see or share has a growing effect on public knowledge and society writ large.
Understanding the impact of medical treatment on health-related quality of life will probably have a growing effect both on health care strategies and on patients.
In the spring, Mr. Bloomberg pledged nearly $20 million over three years to C40, a group of cities around the world engaged in reducing emissions of greenhouse gases and responding to the growing effects of a warming planet.
This will only spur exports, keep job growth and corporate profits humming, and counter the growing effects of a slowing housing market.
The result has been a growing agglomeration effect in Silicon Valley.
During these last years, the number of oncology-related investigational new drug applications has increased, with a growing financial effect on patients and society.
During these last years, there have been an increased number of new drugs for non-small cell lung cancer (NSCLC), with a growing financial effect on patients and society.
The Earth is a growing, "network-effect" metabrain.
