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The phrase "a leverage effect on" is correct and usable in written English.
It can be used in contexts discussing the impact or influence of one factor on another, particularly in finance or business.
Example: "The new marketing strategy had a significant leverage effect on sales growth."
Alternatives: "an impact on" or "an influence on".
Exact(2)
Together, European metropolises represent a very substantial public procurement market of about €10bn per year and this has a leverage effect on the private sector that very often aligns its own requirements with the public sector.
This building has a leverage effect on Asian economies.
Similar(58)
Higher signal intensities have a larger leverage effect on the slope than lower ones, which is given by the model.
We found little evidence for a leverage effect (leverage = zero).
For example, what we have interpreted as a leverage effect may instead be a selection effect.
When philanthropic dollars are applied to lobbying for programs, they can have an enormous leveraging effect on public dollars.
The up-front activities of the innovation process seem to have an important leveraging effect on learning and, hence, on project and bank performance.
Findings in the form of backward multipliers suggest that R&D subsidies have stimulated a substantial leverage effect.
On the other hand, the identification of leverage effect is often based on the sample cross-correlations between past and squared returns.
The so-called energetic leverage effect describes the influence of manufacturing strategies on the energy balance in the use-phase of tribological components in technical products.
A Lévy-based stochastic volatility model considering the leverage effect is also proposed.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com