publication . Preprint . 2000

Financial structure and economic development - firm, industry, and country evidence

Beck, Thorsten; Demirguc-Kunt, Asli; Levine, Ross; Maksimovic, Vojislav;
Open Access
  • Published: 31 Aug 2000
Abstract
The authors explore the relationship between financial structure - the degree to which a financial system is market- or bank-based - and economicdevelopment. They use three methodologies: 1) The cross-country approach uses cross-country data to assess whether economies grow faster with market- or bank-based systems. 2) The industry approach uses a country-industry panel to assess whether industries that depend heavily on external financing grow faster in market- or ban-based financial systems, and whether financial structure influences the rate at which new firms are created. 3) The firm-level approach uses firm-level data across a broad selection of countries t...
Subjects
free text keywords: Fiscal&Monetary Policy,Payment Systems&Infrastructure,Economic Theory&Research,Labor Policies,Banks&Banking Reform,Governance Indicators,Banks&Banking Reform,Economic Theory&Research,Macroeconomic Management,Achieving Shared Growth
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