This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...

We estimate the impact of financial development on industry-level TFP growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. We find a significant relationship between financial development and industry-level TFP growth when...

The study investigates the causal relationship between fossil energy sources, the production cost of oil and financial development on economic growth in Russia. The results show that Russian companies' production cost of oil and oil prices cause economic growth and the one-way causality is...

This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...