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 and regional 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.
Gennaio
Pistoresi, Barbara; Venturelli, Valeria
Pistoresi, Barbara e Valeria, Venturelli. "Credit, venture capital and regional 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
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11380/709055
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