CREDIT, VENTURE CAPITAL AND REGIONAL ECONOMIC GROWTH

Barbara Pistoresi () and Valeria Venturelli ()

Department of Economics from University of Modena and Reggio E., Faculty of Economics "Marco Biagi"

Abstract: In this paper we investigate the relationship between finance and regional economic growth. The dataset consists of a panel of 53 regions belonging to three countries, Germany, Italy and Spain, for the period 1995-2008. To avoid a problem of endogeneity, we estimate a dynamic panel using the generalised method of moments (GMM). The results underline the important role played by bank lending in regional economic growth. The distinction between mutual and commercial credit suggests that both types of bank are important for regional growth but the role of mutual banks is greater in economically deprived areas [EDAs]. Similar results are obtained for the venture capital variable

Keywords: regional economic growth; relationship lending; venture capital; economically deprived areas; dynamic panel techniques (search for similar items in EconPapers)
JEL-codes: C21 G21 G24 O43 O57 (search for similar items in EconPapers)
Pages: pages 22
Date: 2012-01
New Economics Papers: this item is included in nep-ent, nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.dep.unimore.it/materiali_discussione/0680.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.dep.unimore.it:80 (No such host is known. )

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mod:depeco:0680

Access Statistics for this paper

More papers in Department of Economics from University of Modena and Reggio E., Faculty of Economics "Marco Biagi" Contact information at EDIRC.
Bibliographic data for series maintained by Sara Colombini ().