In this paper we investigate the role of credit and venture capital investments on regional economic growth. The dataset consists of a panel of 53 regions belonging to three countries, Germany, Italy and Spain, for the period 1995‐2008. To avoid a problem of endogeneity, we estimate a dynamic panel using the generalised method of moments (GMM). The results underline the important role played by different types of financial intermediaries in regional economic growth: both mutual and commercial banks areimportant for regional growth but the role of mutual banks is greater in economically deprived areas [EDAs]. Similar results are obtained for the venture capital investments.
Pistoresi, Barbara e Valeria, Venturelli. "Credit, Venture Capital andRegional Economic Growth" Working paper, MATERIALI DI DISCUSSIONE, Dipartimento di Economia Politica - Università di Modena e Reggio Emilia, 2012. https://doi.org/10.25431/11380_709055
Credit, Venture Capital and Regional Economic Growth
PISTORESI, Barbara;VENTURELLI, Valeria
2012
Abstract
In this paper we investigate the role of credit and venture capital investments on regional economic growth. The dataset consists of a panel of 53 regions belonging to three countries, Germany, Italy and Spain, for the period 1995‐2008. To avoid a problem of endogeneity, we estimate a dynamic panel using the generalised method of moments (GMM). The results underline the important role played by different types of financial intermediaries in regional economic growth: both mutual and commercial banks areimportant for regional growth but the role of mutual banks is greater in economically deprived areas [EDAs]. Similar results are obtained for the venture capital investments.File | Dimensione | Formato | |
---|---|---|---|
0680.pdf
Open access
Tipologia:
Versione pubblicata dall'editore
Dimensione
308.74 kB
Formato
Adobe PDF
|
308.74 kB | Adobe PDF | Visualizza/Apri |
Pubblicazioni consigliate
I metadati presenti in IRIS UNIMORE sono rilasciati con licenza Creative Commons CC0 1.0 Universal, mentre i file delle pubblicazioni sono rilasciati con licenza Attribuzione 4.0 Internazionale (CC BY 4.0), salvo diversa indicazione.
In caso di violazione di copyright, contattare Supporto Iris