Financial Dependence and Growth Revisited
- Topics:
- Financial Research
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Overview: This Paper is about a research which reveals that whether financial intermediaries allow firms to better respond to global shocks to growth opportunities, rather than the extent that financial intermediaries allow firms to grow in industries with an inherent (technological) financial dependence. Furthermore, if this is the case, we claim that there exists a more direct measure of growth opportunities. In particular, if U.S. capital markets are perfect, then actual growth in the U.S. is a good proxy for global growth opportunities.
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Format: PDF | Size: 299KB | Date: Mar 2003 | Pages: 23






