Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the cross-firm distributional effects of financial development. Using cross-industry, cross-country data, the results are consistent with the view that financial development exerts a disproportionately positive effect on small firms. These results have implications for understanding the political economy of financial sector reform. © 2008 International Monetary Fund with Exclusive License to Print by The Ohio State University.
CITATION STYLE
Beck, T., Demirguc-Kunt, A., Laeven, L., & Levine, R. (2008). Finance, firm size, and growth. Journal of Money, Credit and Banking, 40(7), 1379–1405. https://doi.org/10.1111/j.1538-4616.2008.00164.x
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