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|Title:||The impact of the global financial crisis on industry growth|
|Keywords:||Global financial crisis;Industry growth;Industry panel data|
|Citation:||The Manchester School, (2014)|
|Abstract:||This article investigates the real effects of the recent global financial crisis by using industry panel data across 82 countries. We find that industry growth indicators experienced a sharp drop following the crisis. However, a closer inspection indicates that an adverse effect is pronounced in industries that are more dependent on external finance, and also in those industries that rely on trade credit due to under-developed financial intermediation. It is also found that low- and lower-middle income countries tend to experience a lesser impact on growth. These findings provide new evidence of the negative externalities associated with credit-market friction.|
|Description:||© 2014 The Authors. The Manchester School published by The University of Manchester and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited and is not used for commercial purposes.|
This article has been made available through the Brunel Open Access Publishing Fund.
|Appears in Collections:||Brunel OA Publishing Fund|
Dept of Economics and Finance Research Papers
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