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This paper examines the causal relationship between both bank-based and market-based financial development and … accelerator-enhancing relationship. To accommodate the accelerator-enhancing relationship, the indicators for bank-based and … the autoregressive distributed lag bounds testing approach. For both models, results indicate that both bank-based and …
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This paper creates a new database that covers all banks in the United States in the census years between 1870 and 1900 to test the interaction between inequality and financial development when the banking system was starting over from scratch. A fixed-effects panel regression shows that the...
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