Life-cycle dynamics in industrial sectors. The role of banking market structure
AbstractThis paper analyzes the role of bank competition on the life-cycle dynamics of non-financial industries. Using multi-dimensional data sets, which contain information on job creation and destruction for establishments in U.S. manufacturing sectors operating in different geographical regions and over time, I find evidence that bank competition accelerates the expansion of start-ups and helps them to thrive while young. Once these establishments are mature, however, less competitive banking markets are more propitious. Specifically, mature establishments expand at higher rates and exit the industry at a slower pace in less competitive banking markets.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Chicago in its series Working Paper Series with number WP-02-26.
Date of creation: 2002
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Other versions of this item:
- Nicola Cetorelli, 2003. "Life-cycle dynamics in industrial sectors: the role of banking market structure," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 135-148.
- NEP-ALL-2003-01-27 (All new papers)
- NEP-COM-2003-01-27 (Industrial Competition)
- NEP-ENT-2003-01-27 (Entrepreneurship)
- NEP-IND-2003-02-03 (Industrial Organization)
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- repec:fip:fedhpr:y:2000:i:may:p:132-161 is not listed on IDEAS
- repec:fip:fedhpr:y:2002:i:may:p:509-535 is not listed on IDEAS
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