کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
959491 929297 2013 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Banking deregulation and innovation
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Banking deregulation and innovation
چکیده انگلیسی

We document empirical support for a key micro-level channel—innovation by young, private firms—through which financial sector deregulation affects economic growth. We find that intrastate banking deregulation, which increased the local market power of banks, decreased the level and risk of innovation by young, private firms. In contrast, interstate banking deregulation, which decreased the local market power of banks, increased the level and risk of innovation by young, private firms. These contrasting effects on innovation also translated into contrasting effects on economic growth. Our study suggests that the nature of financial sector deregulation crucially affects its potential benefits to the real economy.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 109, Issue 3, September 2013, Pages 759–774
نویسندگان
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