Working Paper No. 586

International Financial Liberalization and Industry Growth

Publicerad: November 21, 2002Antal sidor: 41Nyckelord: Financial Liberalization; Financial Integration; Economic GrowthJEL-koder: F3; G1; O4

International Financial Liberalization and Industry Growth Jonas Vlachos and Daniel Waldenström


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.

Daniel Waldenström

Kontakt

Tel: 08 665 4584
Mobil: 070 491 6082
daniel.waldenstrom@if...

EU och teknologiskiftet. Europaperspektiv 2020

eu-och-teknologiskiftet-(1).gif


Hur kan EU dra nytta av teknologiskiftet? Det är det övergripande temat i årets upplaga av Europaperspektiv, EU och teknologiskiftet. Två kapitel i årets upplaga är skrivna av IFN-forskare.

Läs mer

Institutet för Näringslivsforskning, Grevgatan 34 - 2 tr, Box 55665, SE-102 15 Stockholm, Sweden | Tel: +46-(0)8-665 45 00 | info@ifn.se