BOFIT Discussion Paper: Economic concentration and finance: Evidence from Russian regions

BOFIT Discussion Paper 18/2015: Economic concentration and finance: Evidence from Russian regions
Kirjoittaja: Christian Hattendorff
Julkaisija: Suomen Pankki - Finlands Bank

The paper investigates the relationship between economic concentration and level of financial development to illuminate the linkage of real economy structure and financial markets. Using data from 81 Russian regions for the period 2005–2011, empirical evidence is offered to show that poor diversification weakens credit. Geographical variables are used as instruments of concentration in accounting for endogeneity. This work supports previous findings at the national level that policymakers seeking to promote economic development should place stronger emphasis on output diversification.

Lue julkaisu Bofitin verkkosivuilta.

Tagit: Talouskehitys

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Sivuston ylläpidosta vastaa Aalto-yliopiston kauppakorkeakoulun Kansainvälisten markkinoiden tutkimuskeskus CEMAT (Center for Markets in Transition)

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