| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15997 |
| 来源ID | Working Paper 15997 |
| Financial Development and City Growth: Evidence from Northeastern American Cities, 1790-1870 | |
| Howard Bodenhorn; David Cuberes | |
| 发表日期 | 2010-05-13 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | In this paper we argue that in 19th century U.S, households and firms that were located in cities with banks enjoyed a higher level of both consumption and production amenities than those who were located in cities without banks. We use data on banks location and city population growth in the Northeastern United States in 1830-1870 and document a positive and strong correlation between financial development and subsequent population growth. The correlation is robust to controls for geographical characteristics of the city, the percentage of population working in different sectors, and its initial population. Propensity score matching estimators that compare similar cities in terms of observables also yield a positive association between finance and urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with increases its population growth in the 1840s by one to one and a half percentage points per year. Because urban growth was correlated with economic development in the nineteenth-century U.S, we believe our results provide further support for the finance-growth nexus. |
| 主题 | History ; Macroeconomic History ; Other History ; Regional and Urban Economics ; Regional Economics |
| URL | https://www.nber.org/papers/w15997 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573671 |
| 推荐引用方式 GB/T 7714 | Howard Bodenhorn,David Cuberes. Financial Development and City Growth: Evidence from Northeastern American Cities, 1790-1870. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15997.pdf（412KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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