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Financial system sophistication and unemployment in industrial countries


Reference:

Feldmann, H., 2013. Financial system sophistication and unemployment in industrial countries. International Journal of Finance & Economics, 18 (4), pp. 319-338.

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Official URL:

http://dx.doi.org/10.1002/ijfe.1466

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Abstract

By using data on 21 industrial countries from 1984 to 2006 and a large number of controls, this paper studies the unemployment effects of one major characteristic of the financial system: its level of sophistication, that is, the variety of financial institutions and instruments available to the economy. The paper finds that a higher level of sophistication is likely to reduce unemployment among the total labour force as well as among high-skilled workers. The magnitude of both effects appears to be modest. By contrast, financial system sophistication does not appear to affect unemployment among low-skilled workers.

Details

Item Type Articles
CreatorsFeldmann, H.
DOI10.1002/ijfe.1466
Related URLs
URLURL Type
http://www.scopus.com/inward/record.url?eid=2-s2.0-84863568314&partnerID=8YFLogxKUNSPECIFIED
DepartmentsFaculty of Humanities & Social Sciences > Economics
RefereedYes
StatusPublished
ID Code31022

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