financial dependence and growth

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January 8, 2018

financial dependence and growth

Bank for International Settlements (BIS) ... Financial Dependence and Growth. The financial development and growth literature has established that finance matters for growth both at the macroeconomic and microeconomic levels (King and Levine 1993). Shyn, Yong-Sang.November, 2005.Financial dependence, growth opportunities, and industrial growth in Korea,Report,[Seoul]Korea Institute of Finance,31 The basic specification in this paper is a semiparametric growth rate function where the interaction between external financial dependence of an industry and financial development of a country enters nonparametrically and the remaining variables are parametric. As has been noted elsewhere, the observed correlation does not necessarily imply a causal relationship. Nicola Cetorelli. The American Economic Review Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data. Financial development stimulates growth, in particular in industries dependent on external finance. Financial Dependence and Growth . This paper examines whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship: that financial development reduces the costs of external finance to firms. This paper examines whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship; that financial development reduces the costs of…. Country Growth Performance and Temporary Shocks, Domestic Saving and International Capital Flows Reconsidered, View 2 excerpts, cites results and methods, By clicking accept or continuing to use the site, you agree to the terms outlined in our. ©2000-2020 ITHAKA. small and medium size enterprises (SMEs) and, Once composed primarily of college and university professors in economics, the American Economic Association (AEA) now attracts 20,000+ members from academe, business, government, and consulting groups within diverse disciplines from multi-cultural backgrounds. In this paper we show that more efficient banks are particularly important in stimulating both output and productivity growth, while traditional volume measures of finance are much less important for productivity growth. Some features of the site may not work correctly. Does finance affect economic growth? LVI, NO. of Chicago, the Finance Krishna Kumar, Canice Prendergast, and … Abstract: Does finance affect economic growth? © 1998 American Economic Association As has been noted elsewhere, the observed correlation does not necessarily imply a causal relationship. This paper provides evidence that bank concentration promotes the growth of those industrial sectors that are more in need of external finance by facilitating credit access to younger firms. FINANCIAL DEPENDENCE AND GROWTH ABSTRACT Does finance affect economic growth? Semantic Scholar is a free, AI-powered research tool for scientific literature, based at the Allen Institute for AI. As has been noted elsewhere, the observed correlation does not necessarily imply a causal relationship. Does finance affect economic growth? This item is part of JSTOR collection Financial Dependence, Stock Market Liberalizations, and Growth Nandini Gupta and Kathy Yuan∗ January 2002 Abstract Stock market liberalizations provide a natural experiment to test for the causal relation between financial development and economic View Article Google Scholar 21. Abstract. Search for more papers by this author. Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data. Financial dependence and growth since the crisis (1) Volume 12 No 3 | 7 I.1. Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data Nicola Cetorelli1 Michele Gambera October 1999 1Federal Reserve Bank of Chicago, 230 S. LaSalle St., Chicago, IL 60604-1413.E-mail: ncetorelli@frbchi.org and Michele.Gambera@chi.frb.org, respectively. 88, issue 3, 559-86 Abstract: This paper examines whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship: that financial development reduces the costs of external finance to firms. World Bank Policy Research Working Paper No. Raghuram Rajan and Luigi Zingales () American Economic Review, 1998, vol. Michele Gambera. Introduction The global financial crisis has deeply affected the growth and finance nexus via several channels, including wide-scale private deleveraging, tighter credit constraints for some economic agents, e.g. Financial Crises, Financial Dependence, and Industry Growth Luc Laeven, Daniela Klingebiel, and Randy Kroszner** Abstract This paper investigates the linkage between financial crises and industry growth. The Journal of Finance. Abstract. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is celebrating over 100 years of publishing. Evidence from a Sample of Middle Income Countries, Does too much finance harm economic growth, The nonlinear relationship between economic growth and financial development: Evidence from developing, emerging and advanced economies, The financial sector and economic growth in a panel of countries, Financial Development and Economic Growth: A Meta-Analysis, DOES FINANCIAL MARKET DEVELOPMENT MATTER IN EXPLAINING GROWTH FLUCTUATIONS, Financial Development, Growth, and the Distribution of Income, Finance and Growth: Schumpeter Might Be Right, Financial markets and growth: An overview☆, The Finance-Growth Nexus: Evidence from Bank Branch Deregulation, A Sensitivity Analysis of Cross-Country Growth Regressions, The Coevolution of the Real and Financial Sectors in the Growth Process, Good Policy or Good Luck? 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