Financial system sophistication and unemployment around the world

被引:1
|
作者
Feldmann, Horst [1 ]
机构
[1] Univ Bath, Dept Econ, Bath BA2 7AY, Avon, England
关键词
financial institutions; financial instruments; financial system; unemployment;
D O I
10.1080/13504851.2013.826868
中图分类号
F [经济];
学科分类号
02 ;
摘要
Using data on 78 countries from 1984 to 2008 and a large number of controls, this article studies the unemployment effect of a major characteristic of the financial system: its level of sophistication, i.e. the variety of financial institutions and instruments available to the economy. It finds that a higher level of sophistication is likely to reduce unemployment. The magnitude of the estimated effect is moderate but noticeable.
引用
收藏
页码:1491 / 1496
页数:6
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