Bank Competition, Financial Dependence and Productivity Growth in Europe
Mercredi | 2015-03-25 salle B103, 12h-14h Aurélien LEROY This paper empirically analyses the links between banking competition and manufacturing productivity growth for a sample of 10 European countries over the period 1999-2009. To test this relationship, which is from a theoretical point of view unclear, we use a difference-in-difference methodology close to the one proposed by Rajan and Zingales (1998). We find that the total factor productivity of the most financially dependent industries grows at a slower rate in economies […]