skip to content
Financial development and growth in the short and long run Preview this item
ClosePreview this item
Checking...

Financial development and growth in the short and long run

Author: Raymond Fisman; Inessa Love; National Bureau of Economic Research.
Publisher: Cambridge, MA : National Bureau of Economic Research, 2004.
Series: NBER working paper series, working paper 10236; World Bank E-Library Archive
Edition/Format:   Computer file : EnglishView all editions and formats
Database:WorldCat
Summary:
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on outside finance due to a comparative advantage in these industries. By contrast, in the short-run we argue that financial  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

 

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Raymond Fisman; Inessa Love; National Bureau of Economic Research.
OCLC Number: 874232288
Notes: Erscheinungsjahr in Vorlageform:c2004.
Description: 1 online resource.
Series Title: NBER working paper series, working paper 10236; World Bank E-Library Archive
Responsibility: Raymond Fisman, Inessa Love.

Abstract:

"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on outside finance due to a comparative advantage in these industries. By contrast, in the short-run we argue that financial development facilitates the reallocation of resources to industries with good growth opportunities, regardless of their reliance on outside finance. To test these predictions, we use a measure of industry-level 'technological' financial dependence based on the earlier work of Rajan and Zingales (1998), and develop new proxies for shocks to (short run) industry growth opportunities. We find differential effects of these measures on industry growth and composition in countries with different levels of financial development. We obtain results that are consistent with financially developed economies specializing in 'financially dependent' industries in the long-run, and allocating resources to industries with high growth opportunities in the short-run"--National Bureau of Economic Research web site.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/874232288> # Financial development and growth in the short and long run
    a bgn:ComputerFile, schema:CreativeWork ;
    library:oclcnum "874232288" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/12560476#Place/cambridge_ma> ; # Cambridge, MA
    schema:contributor <http://experiment.worldcat.org/entity/work/data/12560476#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research.
    schema:contributor <http://experiment.worldcat.org/entity/work/data/12560476#Person/love_inessa> ; # Inessa Love
    schema:creator <http://experiment.worldcat.org/entity/work/data/12560476#Person/fisman_raymond> ; # Raymond Fisman
    schema:datePublished "2004" ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/12560476> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/12560476#Series/world_bank_e_library_archive> ; # World Bank E-Library Archive,
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/12560476#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:name "Financial development and growth in the short and long run" ;
    schema:productID "874232288" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/874232288#PublicationEvent/cambridge_ma_national_bureau_of_economic_research_2004> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/12560476#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:reviews <http://www.worldcat.org/title/-/oclc/874232288#Review/971292678> ;
    schema:url <http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3319> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/874232288> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/12560476#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Person/fisman_raymond> # Raymond Fisman
    a schema:Person ;
    schema:familyName "Fisman" ;
    schema:givenName "Raymond" ;
    schema:name "Raymond Fisman" ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Person/love_inessa> # Inessa Love
    a schema:Person ;
    schema:familyName "Love" ;
    schema:givenName "Inessa" ;
    schema:name "Inessa Love" ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Place/cambridge_ma> # Cambridge, MA
    a schema:Place ;
    schema:name "Cambridge, MA" ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/874232288> ; # Financial development and growth in the short and long run
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/12560476#Series/world_bank_e_library_archive> # World Bank E-Library Archive,
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/874232288> ; # Financial development and growth in the short and long run
    schema:name "World Bank E-Library Archive," ;
    .

<http://www.worldcat.org/title/-/oclc/874232288#Review/971292678>
    a schema:Review ;
    schema:itemReviewed <http://www.worldcat.org/oclc/874232288> ; # Financial development and growth in the short and long run
    schema:reviewBody ""We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on outside finance due to a comparative advantage in these industries. By contrast, in the short-run we argue that financial development facilitates the reallocation of resources to industries with good growth opportunities, regardless of their reliance on outside finance. To test these predictions, we use a measure of industry-level 'technological' financial dependence based on the earlier work of Rajan and Zingales (1998), and develop new proxies for shocks to (short run) industry growth opportunities. We find differential effects of these measures on industry growth and composition in countries with different levels of financial development. We obtain results that are consistent with financially developed economies specializing in 'financially dependent' industries in the long-run, and allocating resources to industries with high growth opportunities in the short-run"--National Bureau of Economic Research web site." ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.