Local financial development and growth Kendall, Jake

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Kendall, Jake
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Journal of Banking & Finance
Company growth; Business; Banking, finance and accounting industries
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jbankfin.2012.01.001 Byline: Jake Kendall Keywords: Banking; Financial development; Human capital; India; Regional growth Abstract: a* I study the link between financial development and growth in sub-national data. a* Lack of local banking capacity appears to reduce growth and the link is non-linear. a* Human capital mitigates the lack of financial development, acting as substitute. a* The results are robust to controls, instruments, and different specifications. Author Affiliation: Bill & Melinda Gates Foundation, PO Box 23350, Seattle, WA 98102, United States Article History: Received 2 February 2010; Accepted 2 January 2012
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