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Spatial Concentration in the Financial Industry

Johanna Palmberg

Advances in Austrian Economics2012https://doi.org/10.1108/s1529-2134(2012)0000016015book-chapter
AJG 1
Weight
0.72

What the paper says

The level of financial development is a key factor influencing long-term economic growth. A high level of financial development allows for the effective diversification of risk and allocation of capital, which, in the long run, improves the growth prospects of an economy. Schumpeter (1911) was one of the first to highlight the importance of financial development as a determinant of economic growth. Recent empirical work supports this relationship (see Beck & Levine, 2002; Levine, 2004; Mishkin, 2007). For example, Levine (2004) summarizes the empirical evidence on financial development and economic growth and states that “the level of financial development is a good predictor of future rates of economic growth, capital accumulation and technological change” (Levine, 1997, p. 689).2 Thus, stock and forward markets spread knowledge about market expectations of factors and changes that are important for economic development (Lachmann, 1978).

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https://doi.org/https://doi.org/10.1108/s1529-2134(2012)0000016015

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@article{johanna2012,
  title        = {{Spatial Concentration in the Financial Industry}},
  author       = {Johanna Palmberg},
  journal      = {Advances in Austrian Economics},
  year         = {2012},
  doi          = {https://doi.org/https://doi.org/10.1108/s1529-2134(2012)0000016015},
}

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Spatial Concentration in the Financial Industry

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Evidence weight

0.72

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.97 × 0.4 = 0.39
M · momentum0.73 × 0.15 = 0.11
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.