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Financial dependence and growth: further evidence

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  • Manoj Raj

Abstract

This article empirically shows that in developing countries, financial development facilitates firms to grow disproportionately in industries with higher external finance dependence or better growth opportunities. This effect is absent in developed countries.

Suggested Citation

  • Manoj Raj, 2009. "Financial dependence and growth: further evidence," Applied Economics Letters, Taylor & Francis Journals, vol. 16(3), pages 325-330.
    • Handle: RePEc:taf:apeclt:v:16:y:2009:i:3:p:325-330
    DOI: 10.1080/13504850601018452
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    References listed on IDEAS

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    1. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    2. Raymond Fisman & Inessa Love, 2007. "Financial Dependence and Growth Revisited," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 470-479, 04-05.
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