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This paper analyses the contribution of public investment to growth in southern Italy in the second half of the … average (1951-1973), followed by divergence (1974-1995). Using cointegration analysis we find a statistically significant …
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The existing weight of evidence suggests that financial structure (the classification of a financial system as bank-based versus market-based) is irrelevant for economic growth. This contradicts the common belief that the institutional structure of a financial system matters. We re-examine this...
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