Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries
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Do stock markets act as a spare tire during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of banking crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on firm
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美国国家经济研究局创建时间：
2015-01-01
