Why Does Financial Development Matter? the United States from 1900 to 1940
نویسندگان
چکیده
There is a substantial body of literature arguing that financial development (the growth of banking and financial intermediation) contributes to economic growth. This paper makes two contributions to this literature. First, drawing on the banking history literature, we use data on state bank-branching and deposit-insurance regulation as a source of plausibly exogenous variation in financial development across and within states. Second, we examine the impact of financial development, not on economic growth, but on components of growth (such as the farm and manufacturing sectors, human capital, and child labor), to provide a richer view of the effects of financial development. Our results show a strong link these variables.
منابع مشابه
Globalization and Income Inequality: Does the Level of Financial Development Matter?
This paper examines the impact of globalization on income inequality in a panel of 78 developed and developing countries over 2002–2015. Moreover, the indirect effect of financial development in the link between globalization and income inequality is also analyzed by incorporating the interaction term between globalization and financial development. The empirical evidence based on the first-dif...
متن کاملFinancial Instability in a Developing Economic Setting: The Case of Iran
The examination of the theory and history of financial crisis in Europe and the United States is the subject matter of two important works by Kindle Berger (Kindle Herger, 1978, and Kindle Berger & Lafarge, 1982). In his first work, Kindle Berger (1978), has provided us with a remarkable account of European and American financial history from 1720 to 1975. The second hook (Kindle Berger & Lafar...
متن کاملOn Why the United States Should Not Attack Iran: A Conservative, Evangelical Christian Response
In the midst of American intervention in Afghanistan and Iraq, and in the aftermath of the presidential election in Iran, support for American involvement in Iran has increased in some circles. In this piece, our desire is to give a conservative, evangelical Christian response to why America should not support any military action against Iran. A position advocated by many of us is “Just War.” I...
متن کاملMedical Education in the United States
Any books that you read, no matter how you got the sentences that have been read from the books, surely they will give you goodness. But, we will show you one of recommendation of the book that you need to read. This medical education in the united states is what we surely mean. We will show you the reasonable reasons why you need to read this book. This book is a kind of precious book written ...
متن کاملDoes the Accountable Care Act Aim to Promote Quality, Health, and Control Costs or Has It Missed the Mark? ;Comment on “Health System Reform in the United States”
McDonough’s perspective on healthcare reform in the US provides a clear, coherent analysis of the mix of access and delivery reforms in the Affordable Care Act (ACA) aka Obamacare. As noted by McDonough, this major reform bill is designed to expand access for health coverage that includes both prevention and treatment benefits among uninsured Americans. Additionally, this legislation includes s...
متن کامل