FINANCIAL STRUCTURE AND INDUSTRIAL STRUCTURE
Journal article
Authors | Apergis, Nicholas, Antzoulatos, Angelos and Tsoumas, Chris |
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Abstract | This paper explores the relationship between financial structure and industrial structure in a panel cointegration framework, using annual data for 29 countries and 28 industrial sectors for the period 1990–2001. The results indicate that financial structure is to a significant extent related to industrial structure in the long run, yet their relationship is partly consistent with the industrial sectors' technological orientation postulated by the theoretical literature. It is in line, however, with the so‐called ‘financial services view’ that stresses the importance of a well developed financial system for growth, irrespective of its structure. In addition, the results indicate that financial structure does not seem to play a role in a sector’s performance relative to GDP. |
Keywords | financial structure; industrial structure; panel cointegration |
Year | 2010 |
Journal | Bulletin of Economic Research |
Publisher | Wiley |
Web address (URL) | http://hdl.handle.net/10545/623602 |
http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
hdl:10545/623602 | |
Publication dates | 12 Oct 2010 |
Publication process dates | |
Deposited | 14 Mar 2019, 17:41 |
Contributors | University of Piraeus, University of Piraeus and University of Piraeus |
File | File Access Level Open |
File | File Access Level Open |
https://repository.derby.ac.uk/item/95675/financial-structure-and-industrial-structure
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