International Financial Liberalization and Industry Growth

Arbeitspapier

The growth effects of international financial liberalization and integration are investigated using the methodology and data developed by Rajan and Zingales (1998). The main result is that industries highly dependent on external financing do not experience higher growth in value added in countries with liberalized financial markets. Liberalization does, however, increase the growth rates of both production and firm creation among externally dependent industries - given that the countries have reached a relatively high level of financial development. These results are consistent both with increased competition and increased outsourcing. Some preliminary evidence point towards the latter explanation.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IUI Working Paper ; No. 586

Klassifikation und Themen

• Klassifikation: Wirtschaft ; International Finance: General ; General Financial Markets: General (includes Measurement and Data) ; Economic Growth and Aggregate Productivity: General
• Thema: Financial Liberalization ; Financial Integration ; Economic Growth ; Wirtschaftswachstum ; Finanzmarktregulierung ; Marktintegration ; Internationaler Finanzmarkt ; Schätzung

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Vlachos, Jonas ; Waldenström, Daniel
• Ereignis: Veröffentlichung
• (wer): The Research Institute of Industrial Economics (IUI)
• (wo): Stockholm
• (wann): 2002

Weitere Informationen

• Handle: http://hdl.handle.net/10419/81156
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ