| Does Financial Development Volatility Affect Industrial Growth Volatility? | |
|---|---|
| 學年 | 102 |
| 學期 | 1 |
| 出版（發表）日期 | 2014-01-01 |
| 作品名稱 | Does Financial Development Volatility Affect Industrial Growth Volatility? |
| 作品名稱（其他語言） | |
| 著者 | Huang, H. C., Fang, W. S. and Miller, S. |
| 單位 | 財務金融學系暨研究所 |
| 出版者 | |
| 著錄名稱、卷期、頁數 | International Review of Economics and Finance, 29, 307-320. |
| 摘要 | This paper investigates whether volatility of financial development plays a role in determining industrial growth volatility. Three key findings emerge. First, overwhelming evidence supports the view that more volatile financial development raises the industrial volatility in sectors that rely more on external liquidity. Second, the positive effect of financial volatility on industrial volatility mainly works through the increase in fluctuations of the growth of real value added per firm and the number of firms, with the former effect more prominent. Third, both the volatilities of the banking sector and the stock market positively associate with higher industrial growth volatility, which contrasts sharply with the finding in the literature that financial structure generally does not matter. |
| 關鍵字 | Financial development;Financial volatility;Industrial growth volatility |
| 語言 | zh |
| ISSN | |
| 期刊性質 | 國內 |
| 收錄於 | SSCI |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 否 |
| 國別 | TWN |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/99611 ) |
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