Kalemli-Ozcan, Sebnem; Sørensen, Bent E.; Volosovych, Vadym - 2010 - rev.
We investigate the relationship between financial integration and output volatility at micro and macro levels. Using a … very large firm-level dataset (AMADEUS) from 16 European countries, we construct a measure of "deep" financial integration … survives aggregation and carries over to regional output, leading to a positive association between deep financial integration …