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Banking and industrialization
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dc.contributor.author | Heblich, Stephan | |
dc.contributor.author | Trew, Alex | |
dc.date.accessioned | 2020-09-26T23:34:45Z | |
dc.date.available | 2020-09-26T23:34:45Z | |
dc.date.issued | 2019-12 | |
dc.identifier | 252716734 | |
dc.identifier | 1053c2cb-8433-4db4-831d-eba16c81c515 | |
dc.identifier | 85079656600 | |
dc.identifier | 000509691900003 | |
dc.identifier.citation | Heblich , S & Trew , A 2019 , ' Banking and industrialization ' , Journal of the European Economic Association , vol. 17 , no. 6 , pp. 1753-1796 . https://doi.org/10.1093/jeea/jvy037 | en |
dc.identifier.issn | 1542-4766 | |
dc.identifier.uri | https://hdl.handle.net/10023/20692 | |
dc.description | Research for this paper was supported by the Institute for New Economic Thinking (INET) Grant No. INO15-00025. | en |
dc.description.abstract | We establish a causal role for banking access in the spread of the Industrial Revolution over the period 1817–1881 by exploiting unique employment data from 10,528 parishes across England and Wales and a novel instrument. We estimate that a one standard deviation increase in 1817 finance employment increases annualized industrial employment growth by 0.93 percentage points. We establish the role of structural transformation as an underlying growth mechanism and show that banking access: (i) increases the industrial employment share; (ii) stimulates urbanization; and (iii) fosters inter-industry transition to high TFP, intermediate and capital-intensive sub-sectors. | |
dc.format.extent | 1403945 | |
dc.language.iso | eng | |
dc.relation.ispartof | Journal of the European Economic Association | en |
dc.subject | Banking | en |
dc.subject | Industrial Revolution | en |
dc.subject | Structural transformation | en |
dc.subject | Regional economic growth | en |
dc.subject | Urbanization | en |
dc.subject | DA Great Britain | en |
dc.subject | HB Economic Theory | en |
dc.subject | HD28 Management. Industrial Management | en |
dc.subject | 3rd-NDAS | en |
dc.subject | BDC | en |
dc.subject | R2C | en |
dc.subject | SDG 8 - Decent Work and Economic Growth | en |
dc.subject.lcc | DA | en |
dc.subject.lcc | HB | en |
dc.subject.lcc | HD28 | en |
dc.title | Banking and industrialization | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
dc.identifier.doi | 10.1093/jeea/jvy037 | |
dc.description.status | Peer reviewed | en |
dc.date.embargoedUntil | 2020-09-27 |
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