Publication:
Does Local Financial Development Matter for Firm Lifecycle in India?

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dc.contributor.authorAyyagari, Meghana
dc.contributor.authorDemirguc-Kunt, Asli
dc.contributor.authorMaksimovic, Vojislav
dc.date.accessioned2014-10-02T21:09:28Z
dc.date.available2014-10-02T21:09:28Z
dc.date.issued2014-08
dc.description.abstractThe differences in financial development across Indian states, while seeming substantial, have a minor effect on firm lifecycle and growth. These results hold controlling for differences in labor regulations across states, capital intensity, and for firms born before and after the major reforms. There is no evidence that firms in financially dependent industries have different lifecycle profiles or grow faster in financially developed states than underdeveloped states. Overall, firms in the formal manufacturing sector grow as they age whereas in the informal sector, firms have a declining lifecycle, but in both cases little evidence is found that financial institutions matter for firm lifecycle. The findings of this paper suggest that size and depth differences in financial development across Indian states are likely dwarfed by overall inefficiencies that characterize state-dominated financial systems, with important implications for the reforms of the Indian financial system going forward.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/08/20132223/local-financial-development-matter-firm-lifecycle-india
dc.identifier.doi10.1596/1813-9450-7008
dc.identifier.urihttps://hdl.handle.net/10986/20349
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank Group, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 7008
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO BANKING
dc.subjectACCESS TO BANKING SERVICES
dc.subjectACCOUNTING
dc.subjectAGE GROUP
dc.subjectAGE GROUPS
dc.subjectBANK BRANCH
dc.subjectBANK BRANCHES
dc.subjectBANK CREDIT
dc.subjectBANK FINANCING
dc.subjectBANKING REFORM
dc.subjectBANKING REGULATION
dc.subjectBANKING SECTOR
dc.subjectBANKING SERVICES
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKS
dc.subjectBRANCH
dc.subjectBRANCHES
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBUSINESS ENVIRONMENTS
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL MARKET
dc.subjectCASH FLOW
dc.subjectCHAMBERS OF COMMERCE
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPANY
dc.subjectCORPORATE ACQUISITIONS
dc.subjectCORPORATE FINANCE
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATIONS
dc.subjectCORRUPTION
dc.subjectCREDIT ALLOCATION
dc.subjectDEBT
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDIVERSIFICATION
dc.subjectDIVIDEND POLICY
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC SUCCESS
dc.subjectECONOMICS
dc.subjectEDUCATION LEVEL
dc.subjectEMPLOYEE
dc.subjectEMPLOYER
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT DYNAMICS
dc.subjectEMPLOYMENT LEVELS
dc.subjectEMPLOYMENT PROTECTION LEGISLATION
dc.subjectENTREPRENEURIAL ACTIVITY
dc.subjectENTREPRENEURSHIP
dc.subjectEXPANSION
dc.subjectEXTERNAL FINANCE
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCIAL ACCESS
dc.subjectFINANCIAL DEPTH
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL OUTREACH
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SECTOR REFORMS
dc.subjectFINANCIAL STRUCTURE
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIRM GROWTH
dc.subjectFIRM PERFORMANCE
dc.subjectFIRM SIZE
dc.subjectFIRM SIZE DISTRIBUTION
dc.subjectFIRMS
dc.subjectFLEXIBLE LABOR MARKETS
dc.subjectFOREIGN BANKS
dc.subjectFORMAL FINANCIAL INSTITUTION
dc.subjectGROWTH OPPORTUNITIES
dc.subjectINCOME
dc.subjectINDUSTRY CHARACTERISTICS
dc.subjectINEQUALITY
dc.subjectINFLEXIBLE LABOR
dc.subjectINFORMAL FINANCE
dc.subjectINFORMAL SECTOR
dc.subjectINTERNATIONAL BANK
dc.subjectJOB CREATION
dc.subjectLABOR FORCE
dc.subjectLABOR INTENSITY
dc.subjectLABOR LAWS
dc.subjectLABOR MARKET INSTITUTIONS
dc.subjectLABOR MARKET OUTCOMES
dc.subjectLABOR MARKET REGULATION
dc.subjectLABOR MARKET REGULATIONS
dc.subjectLABOR MARKETS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOR REGULATION
dc.subjectLABOR REGULATIONS
dc.subjectLABOUR
dc.subjectLABOUR MARKET
dc.subjectLABOUR MARKET REGULATION
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLENDING DECISIONS
dc.subjectLICENSING
dc.subjectLINES OF CREDIT
dc.subjectMACROECONOMICS
dc.subjectMANUFACTURING INDUSTRIES
dc.subjectMARKET LIBERALIZATION
dc.subjectMERCHANTS
dc.subjectMIGRATION
dc.subjectMULTIPLIER EFFECT
dc.subjectNATIONALIZED BANKS
dc.subjectNEW BUSINESSES
dc.subjectOUTPUTS
dc.subjectPLANT SIZE
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR BANKS
dc.subjectPRODUCT MARKETS
dc.subjectPRODUCTION PROCESS
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectREGIONAL RURAL BANKS
dc.subjectRESERVE BANK OF INDIA
dc.subjectRIGID LABOR MARKET
dc.subjectSIZE OF FIRMS
dc.subjectSMALL BUSINESS
dc.subjectSMALL BUSINESS FINANCE
dc.subjectSMALL ENTERPRISES
dc.subjectSMALL FIRM
dc.subjectSMALL FIRMS
dc.subjectSOCIAL BANKING
dc.subjectSOCIAL CAPITAL
dc.subjectSTATE OWNED BANKS
dc.subjectSTOCK MARKETS
dc.subjectTRADE REFORMS
dc.subjectTRANSPORT
dc.subjectUNEMPLOYMENT
dc.subjectUNION
dc.subjectUNPAID FAMILY WORKERS
dc.subjectURBAN AREAS
dc.subjectVILLAGES
dc.subjectWAGES
dc.subjectWATER SUPPLY
dc.subjectWORKER
dc.subjectWORKERS
dc.titleDoes Local Financial Development Matter for Firm Lifecycle in India?en
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleDoes Local Financial Development Matter for Firm Lifecycle in India?
okr.date.disclosure2014-08-31
okr.date.doiregistration2025-04-10T11:00:42.996442Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2014/08/20132223/local-financial-development-matter-firm-lifecycle-india
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.guid556271468041468712
okr.identifier.doi10.1596/1813-9450-7008
okr.identifier.externaldocumentum000158349_20140820141618
okr.identifier.internaldocumentum20132223
okr.identifier.reportWPS7008
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/08/20/000158349_20140820141618/Rendered/PDF/WPS7008.pdfen
okr.region.administrativeSouth Asia
okr.region.countryIndia
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicSocial Protections and Labor::Labor Policies
okr.topicSocial Protections and Labor::Labor Markets
okr.topicBanks and Banking Reform
okr.unitDevelopment Research Group
okr.volume1 of 1
relation.isAuthorOfPublication234a20c0-893c-561a-8c90-6f5be5be5b9b
relation.isAuthorOfPublication.latestForDiscovery234a20c0-893c-561a-8c90-6f5be5be5b9b
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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