رشد و دسترسی محلی به اعتبار: نظریه و شواهد

We theoretically and empirically investigate the effects of access to credit on local growth using a Schumpeterian growth model and assuming monopolistic competition between differentiated products of the banking system. We show that access to credit exerts a positive effect on local economic growth. To validate the theoretical prediction we use data on firms and bank branches from 18 emerging European economies.