Financial Dependence and Growth Export

@article{citeulike:94611, 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. Specifically, we ask whether industrial sectors that are relatively more in need of external finance develop disproportionately faster in countries with more-developed financial markets. We find this to be true in a large sample of countries over the 1980's. We show this result is unlikely to be driven by omitted variables, outliers, or reverse causality.}, author = {Rajan, Raghuram G. and Zingales, Luigi}, citeulike-article-id = {94611}, citeulike-linkout-0 = {http://www.jstor.org/stable/116849}, journal = {The American Economic Review}, keywords = {business, economics, finance, investment}, number = {3}, pages = {559--586}, posted-at = {2005-02-27 00:36:20}, priority = {3}, title = {Financial Dependence and Growth}, url = {http://www.jstor.org/stable/116849}, volume = {88}, year = {1998} }

TY - JOUR ID - citeulike:94611 L3 - citeulike-article-id:94611 N2 - 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. Specifically, we ask whether industrial sectors that are relatively more in need of external finance develop disproportionately faster in countries with more-developed financial markets. We find this to be true in a large sample of countries over the 1980's. We show this result is unlikely to be driven by omitted variables, outliers, or reverse causality. IS - 3 JF - The American Economic Review EP - 586 TI - Financial Dependence and Growth VL - 88 SP - 559 KW - business KW - economics KW - finance KW - investment AU - Rajan, Raghuram AU - Zingales, Luigi PY - 1998/// UR - http://www.jstor.org/stable/116849 ER -