Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?
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https://www.nber.org/papers/w8982
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Are market-based or bank-based financial systems better at financing the expansion of industries that depend heavily on external finance, facilitating the formation of new establishments, and improving the efficiency of capital allocation across industries? We find evidence for neither the market
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美国国家经济研究局创建时间：
2002-06-01
