Finance, firm size, and growth

被引:293
作者
Beck, Thorsten [1 ]
Demirguc-Kunt, Asli [1 ]
Laeven, Luc [2 ]
Levine, Ross [3 ]
机构
[1] World Bank, Dev Res Grp, Washington, DC 20433 USA
[2] ECGI, Res Dept, Int Monetary Fund, Ctr Econ Policy Res, Washington, DC USA
[3] Brown Univ, Natl Bur Econ Res, Dept Econ, Providence, RI 02912 USA
关键词
firm size; financial development; economic growth;
D O I
10.1111/j.1538-4616.2008.00164.x
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the cross-firm distributional effects of financial development. Using cross-industry, cross-country data, the results are consistent with the view that financial development exerts a disproportionately positive effect on small firms. These results have implications for understanding the political economy of financial sector reform.
引用
收藏
页码:1379 / 1405
页数:27
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