Finance, firm size and growth

T.H.L. Beck, A. Demirgüc-Kunt, L. Laeven, R. Levine

Research output: Contribution to journalArticleScientificpeer-review

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Abstract

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.
Original languageEnglish
Pages (from-to)1379-1405
JournalJournal of Money, Credit and Banking
Volume40
Issue number7
Publication statusPublished - 2008

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Finance
Firm size
Firm growth
Financial development
Industry
Prediction
Financial sector
Small firms
Dispute
Economic growth
Distributional effects
Political economy
Economists

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Beck, T. H. L., Demirgüc-Kunt, A., Laeven, L., & Levine, R. (2008). Finance, firm size and growth. Journal of Money, Credit and Banking, 40(7), 1379-1405.
Beck, T.H.L. ; Demirgüc-Kunt, A. ; Laeven, L. ; Levine, R. / Finance, firm size and growth. In: Journal of Money, Credit and Banking. 2008 ; Vol. 40, No. 7. pp. 1379-1405.
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Beck, THL, Demirgüc-Kunt, A, Laeven, L & Levine, R 2008, 'Finance, firm size and growth' Journal of Money, Credit and Banking, vol. 40, no. 7, pp. 1379-1405.

Finance, firm size and growth. / Beck, T.H.L.; Demirgüc-Kunt, A.; Laeven, L.; Levine, R.

In: Journal of Money, Credit and Banking, Vol. 40, No. 7, 2008, p. 1379-1405.

Research output: Contribution to journalArticleScientificpeer-review

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AU - Beck, T.H.L.

AU - Demirgüc-Kunt, A.

AU - Laeven, L.

AU - Levine, R.

PY - 2008

Y1 - 2008

N2 - 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.

AB - 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.

M3 - Article

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JO - Journal of Money, Credit and Banking

JF - Journal of Money, Credit and Banking

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Beck THL, Demirgüc-Kunt A, Laeven L, Levine R. Finance, firm size and growth. Journal of Money, Credit and Banking. 2008;40(7):1379-1405.