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, financialization has contributed to compress and somewhat degrade the specific properties of the finance-innovation nexus of both … financialization process and the "maximizing shareholders value" principle. The available evidence suggests that financialization has … de-linked the performance of firms on the financial markets from the determinants of firm-level growth and innovation …
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We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...
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