Financial Development and TFP Growth: Cross-Country and Industry-Level Evidence

• Texto completo

•  
• Blogs
•  
• General
•  
• Perfiles
•  
• Información Adicional
•  
• Ver todos
•  

Blogs Publicados

• {{blog.titulo_blog}} - {{formatDate(blog.fecha_publicacion) | date:'yyyy-MM-dd' }}

General

Publicado en

• Applied Financial Economics

Resumen

• This article estimates the impact of financial development on industry-level Total Factor Productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1965 to 2003. A significant relationship is found between financial development and industry-level TFP growth when controlling for country-time and industry-time fixed effects. The results are both statistically and economically significant. TFP growth can accelerate up to 0.6% per year, depending on the external finance requirement of industries, following a one SD increase in financial development. The results are robust to different samples and specifications.

autores

• Arizala, Francisco
• Cavallo, Eduardo
• Galindo, Arturo José

fecha de publicación

• 2013

Perfiles

Identificador de objeto digital (DOI)

• https://doi.org/10.1080/09603107.2012.725931

Información Adicional

Página inicial

• 433

Última página

• 448

Volumen

• 23

Issue

• 6