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- W2891603504 abstract "We find a positive and strong correlation between financial development and subsequent city growth in the Northeastern United States between 1790 and 1870. The correlation is robust to controls for geographical characteristics of the city, the percentage of population working in different sectors, and its initial population. Our estimates suggest that the presence of a bank at a given location increases its subsequent growth by one to two percentage points per year. Because urban growth was correlated with economic development in the nineteenth-century US, we believe our results provide further support for the finance-growth nexus." @default.
- W2891603504 created "2018-09-27" @default.
- W2891603504 creator A5067255786 @default.
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- W2891603504 date "2010-05-01" @default.
- W2891603504 modified "2023-09-25" @default.
- W2891603504 title "Financial Development and City Growth: Evidence from Northeastern American Cities, 1790-1870" @default.
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- W2891603504 doi "https://doi.org/10.3386/w15997" @default.
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