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dc.contributor.authorHeblich, Stephan
dc.contributor.authorTrew, Alex William
dc.date.accessioned2015-09-23T08:40:03Z
dc.date.available2015-09-23T08:40:03Z
dc.date.issued2017-12-01
dc.identifier.citationHeblich , S & Trew , A W 2017 ' Banking and industrialization ' School of Economics & Finance Discussion Paper , no. 1506 , University of St Andrews , St Andrews , pp. 1-69 .en
dc.identifier.issn0962-4031
dc.identifier.otherPURE: 218642036
dc.identifier.otherPURE UUID: af2abc3f-f80f-463a-bae2-1870fbd40799
dc.identifier.urihttps://hdl.handle.net/10023/7529
dc.description.abstractWe 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 structural transformation motivates the empirical approach. Since initial banking access in 1817 may have been endogenously determined, we use instrumental variables to predict the location of country banks founded before the industrial take-off could possibly be expected. Distance and subsectoral analysis suggest that the effect of finance is highly localized and particularly strong for intermediate secondary sectors.
dc.format.extent69
dc.language.isoeng
dc.publisherUniversity of St Andrews
dc.relation.ispartofen
dc.relation.ispartofseriesSchool of Economics & Finance Discussion Paperen
dc.rightsCopyright (c) the authorsen
dc.subjectBankingen
dc.subjectindustrial revolutionen
dc.subjectstructural transformationen
dc.subjectregional economic growthen
dc.subjecturbanizationen
dc.subjectHC Economic History and Conditionsen
dc.subjectSDG 8 - Decent Work and Economic Growthen
dc.subject.lccHCen
dc.titleBanking and industrializationen
dc.typeWorking or discussion paperen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.identifier.urlhttps://ideas.repec.org/p/san/wpecon/1506.htmlen


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