In light of the recent explosion of internationalcapital mobility, it is important to consider the question of whether nationalfinancial institutions and markets still matter for growth once domestic agentshave access to foreign markets.Although this question is difficult toanswer empirically,...

We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By...

We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By...