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area. The paper looks primarily at Italy, using the examples of Germany and Japan to search for parallels and contrasts … Germany and Japan followed a much more orthodox stance than Italy), in institutional set-ups (with Italy much less efficient … than Germany and Japan), in labour market relations (with much greater conflict in Italy than in the other two countries …
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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...
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