| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6736 |
| DP6736 The Labour Market Impact of Immigration in Western Germany in the 1990's | |
| Gianmarco Ottaviano; Giovanni Peri; Francesco D Amuri | |
| 发表日期 | 2008-03-07 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper analyzes the effects of financial liberalization on growth and volatility at the industry level in a large sample of countries. We estimate the impact of liberalization on production, employment, firm entry, capital accumulation, and productivity, using both de facto and de jure measures of liberalization. In order to overcome omitted variables concerns, we employ a number of alternative difference-in-differences estimation strategies. We implement a propensity score matching algorithm to find a control group for each liberalizing country. In addition, we exploit variation in industry characteristics to obtain an alternative set of difference-in-differences estimates. Financial liberalization is found to have a positive effect on both growth and volatility of production across industries. The positive growth effect comes from increased entry of firms, higher capital accumulation, and an expansion in total employment. By contrast, we do not detect any effect of financial liberalization on measured productivity. Finally, the growth effects of liberalization appear temporary rather than permanent. |
| 主题 | International Macroeconomics |
| 关键词 | Financial liberalization Growth Volatility Industry-level data Difference-in-differences estimation Propensity score matching |
| URL | https://cepr.org/publications/dp6736 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535574 |
| 推荐引用方式 GB/T 7714 | Gianmarco Ottaviano,Giovanni Peri,Francesco D Amuri. DP6736 The Labour Market Impact of Immigration in Western Germany in the 1990's. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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