Infraestructura bancaria local y producción manufacturera en municipios mexicanos y condados norteamericanos

David Mayer-Foulkes and Saidé Aranzazu Salazar

No DTE 388, Working Papers from CIDE, División de Economía

Abstract: We analyze the impact of local banking infrastructure on manufacturing growth in Mexican municipalities and US counties. We find that aggregate local banking deposits have a positive and significant impact on technological change, and on the use of human capital at the municipal or county level (but not on unskilled labor employment nor on capital accumulation). These effects are stronger for Mexico than for the United States, as can be expected for a more credit constrained economy. We summarize the theoretical explanations for these effects given by both the literature relating financial development to economic growth and the literature on the geographical agglomeration of manufacture.

Keywords: local banking infrastructure; manufacturing growth; Mexican municipalities; US counties; technological change (search for similar items in EconPapers)
JEL-codes: H54 O14 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2007-06
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