FINANCIAL LITERATURE, FINANCIAL TECHNOLOGY AND STUDENT FINANCIAL BEHAVIOR

FINANCIAL ARCHITECTURE and TECHNOLOGY

Is market-based or bank-based financial system better for fostering technological innovation as an engine of growth? I present evidence that bank-based systems promote rapid technological progress in those industrial sectors that depend heavily on external finance for funding innovation by facilitating credit access to younger firms. On the other hand, I also find evidence of a general positive...

Financial Depth – Financial Repression Linkage

Financial Development and Technology Diffusion

We examine the extent to which financial market development impacts the diffusion of 16 major technologies, looking across 55 countries, from 1870 to 2000. We find that greater depth in financial markets leads to faster technology diffusion for more capital-intensive technologies, but only in periods closer to the invention of the technology. In fact, we find no differential effect of financial...

Financial Structure and Financial Crisis

For many years the economies of South East Asia were regarded as models for economic development. The four tigers, Hong Kong, South Korea, Singapore and Taiwan, grew from low levels of income per head to among the highest in the world in a few decades. The newly industrializing economies of Indonesia, Malaysia and Thailand had also started to grow at an extremely rapid rate. The Philippines had...

Supplement to " Financial Institutions , Technology

This supplement considers the role of trade in vertically differentiated final goods in the vintage human capital model, when countries differ in their borrowing constraints. Each new technology is a differentiated good of higher quality in the sense of Lancaster (1966).