Financial dependence and growth: further evidence

Manoj Raj

Applied Economics Letters, 2009, vol. 16, issue 3, 325-330

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.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:3:p:325-330

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DOI: 10.1080/13504850601018452

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