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AuthorAyadi, Rym
AuthorBen Naceur, Sami
AuthorGoaied, Mohamed
Available date2023-01-18T08:39:02Z
Publication Date2021
Publication NameEconomic Notes
ResourceScopus
URIhttp://dx.doi.org/10.1111/ecno.12185
URIhttp://hdl.handle.net/10576/38568
AbstractThis paper adds to the recent literature on finance and employment creation by exploring the effect of finance on the labour market, using data on 143 countries from 1995 to 2015. We also examine whether the impact of financial development on labour is significantly different before and after the 2008 global financial crisis. This paper has five main findings. First, the analysis confirms the positive relationship between financial institution efficiency and access, as well as the employment rate in the linear specification. Second, the marginal returns to employment from further financial institution inclusion diminish at high levels of inclusion and turn negative when an inclusion point is reached. Third, the effects of financial market access on employment show a "U-Shaped" relationship. Fourth, the positive effect of financial development on employment strengthens with the country's institutional quality. And fifth, there is strong support for a negative impact of financial development on employment during the global financial crisis of 2007-2008. 2021 Banca Monte dei Paschi di Siena SpA
SponsorWe would like to thank the associate editor and two anonymous referees for their useful comments, and Rob Atree for editorial assistance.
Languageen
PublisherBlackwell Publishing Ltd
Subjectemployment
employment generation
finance
financial crisis
financial market
financial provision
labor market
panel data
TitleFinancial development and employment: New panel evidence
TypeArticle
Issue Number2
Volume Number50
dc.accessType Abstract Only


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