Job Growth and Finance : Are Some Financial Institutions Better Suited to Early Stages of Development Than Others?

This paper combines firm-level data from 89 countries with updated country-level data on financial structure, and uses two estimation approaches. It finds that in low-income countries, labor growth is swifter in countries with a higher level of pri...

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Bibliographic Details
Main Authors:	Cull, Robert, Xu, L. Colin
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNTING ACCOUNTING RECORDS ADVANCED COUNTRIES ADVERSE IMPACT AGRICULTURE BANK ASSET BANK CREDIT BANK LENDING BANK POLICY BANK REGULATION BANKING CRISES BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTOR DEVELOPMENT BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BENCHMARK BRITISH LEGAL ORIGIN BROKER BROKERS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INTENSITY CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL MARKETS CASH FLOW CENTRAL BANKS CHECKS CIVIL LAW COMMODITIES COMMODITY COMMON LAW CONSUMERS CORPORATE GOVERNANCE COUNTRY DUMMIES COUNTRY FIXED EFFECTS CREDIT GROWTH CREDIT LEVELS CREDIT MARKET CREDIT MARKETS CREDITWORTHINESS DEBTS DEMOCRACY DEVELOPING COUNTRIES DEVELOPMENT POLICY DOMESTIC BANKING DOMESTIC BANKING MARKETS DOMESTIC BANKS DUMMY VARIABLE DUMMY VARIABLES DURABLE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC HISTORIANS ECONOMIC OPPORTUNITY ECONOMIC RESEARCH ECONOMICS ECONOMIES OF SCALE EMPLOYEE EMPLOYMENT EMPLOYMENT GROWTH ENDOWMENTS EQUIPMENT EXCLUSION EXPENDITURES EXPROPRIATION EXTERNAL FINANCE EXTERNAL FINANCING FAMILY FARMS FINANCIAL DEVELOPMENT FINANCIAL HISTORIES FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL STRUCTURE FINANCIAL STRUCTURES FINANCIAL SYSTEM FINANCIAL SYSTEMS FIRM GROWTH FIRM PERFORMANCE FOREIGN BANK FOREIGN BANK PARTICIPATION FOREIGN BANKS FOREIGN ENTRY FOREIGN FIRMS FOREIGN OWNERS FOREIGN OWNERSHIP FOREIGN OWNERSHIP OF BANKS GDP GDP PER CAPITA GOVERNMENT OWNERSHIP GOVERNMENT OWNERSHIP OF BANKS GROWTH RATE GROWTH RATES HUMAN CAPITAL INCOME INCOME DISTRIBUTION INCOME GROUP INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOMES INFORMATION ASYMMETRIES INFORMATION ASYMMETRY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL ENVIRONMENT INSTRUMENT INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL FLOWS INVESTMENT CLIMATE INVESTMENT RATE INVESTMENT RATES INVESTOR PROTECTION JUDICIAL SYSTEM KEY CHALLENGE LEGAL PROTECTION LEGAL SYSTEM LEGAL TRADITIONS LENDERS LESS DEVELOPED ECONOMIES LIABILITY LOCAL FINANCIAL INSTITUTIONS LOCAL INFRASTRUCTURE LOW-INCOME COUNTRIES MARKET CAP MARKET DEVELOPMENT NATURAL RESOURCE NATURAL RESOURCES NET EXPORTS OUTPUT OUTREACH OUTSIDE INVESTORS OWNERSHIP STRUCTURE PER CAPITA INCOME PERFORMANCE MEASURES POLITICAL CONSIDERATIONS POLITICAL ECONOMY POLITICAL STABILITY PORTFOLIO PORTFOLIO QUALITY POSITIVE COEFFICIENT POSITIVE COEFFICIENTS POSITIVE EFFECTS PRIVATE CREDIT PRIVATE MARKET PRIVATE PROPERTY PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PROPERTY RIGHTS PROTECTION PRUDENTIAL REGULATION REAL ESTATE REAL SECTOR RESERVES RULE OF LAW SALES GROWTH SECURITIES SECURITIES MARKET SECURITIES MARKET DEVELOPMENT SECURITIES MARKETS SHARE OF ASSETS SMALL BANKS SMALL BUSINESSES SMALL-SCALE ENTREPRENEURS SOURCES OF FINANCE STATE BANKS STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKET DEVELOPMENT STOCK MARKETS TAX TELECOMMUNICATIONS TRANSPORT WEALTH WORLD ECONOMIES
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111114114234 http://hdl.handle.net/10986/3648