{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,2,10]],"date-time":"2026-02-10T13:23:23Z","timestamp":1770729803418,"version":"3.49.0"},"reference-count":48,"publisher":"Springer Science and Business Media LLC","issue":"4","license":[{"start":{"date-parts":[[2023,11,11]],"date-time":"2023-11-11T00:00:00Z","timestamp":1699660800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.springernature.com\/gp\/researchers\/text-and-data-mining"},{"start":{"date-parts":[[2023,11,11]],"date-time":"2023-11-11T00:00:00Z","timestamp":1699660800000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/www.springernature.com\/gp\/researchers\/text-and-data-mining"}],"content-domain":{"domain":["link.springer.com"],"crossmark-restriction":false},"short-container-title":["Comp Econ Stud"],"published-print":{"date-parts":[[2024,12]]},"DOI":"10.1057\/s41294-023-00227-5","type":"journal-article","created":{"date-parts":[[2023,11,11]],"date-time":"2023-11-11T10:01:42Z","timestamp":1699696902000},"page":"661-683","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":6,"title":["Unemployment and Financial Development: Evidence for OECD Countries"],"prefix":"10.1057","volume":"66","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-6926-2653","authenticated-orcid":false,"given":"Ant\u00f3nio","family":"Afonso","sequence":"first","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8241-6573","authenticated-orcid":false,"given":"M. Carmen","family":"Blanco-Arana","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2023,11,11]]},"reference":[{"issue":"4\u20136","key":"227_CR1","doi-asserted-by":"publisher","first-page":"665","DOI":"10.1016\/S0014-2921(01)00107-6","volume":"45","author":"D Acemoglu","year":"2001","unstructured":"Acemoglu, D. 2001. Credit market imperfections and persistent unemployment. European Economic Review 45(4\u20136): 665\u2013679.","journal-title":"European Economic Review"},{"key":"227_CR2","doi-asserted-by":"publisher","first-page":"30","DOI":"10.1016\/j.inteco.2021.11.006","volume":"169","author":"A Afonso","year":"2022","unstructured":"Afonso, A., and M.C. Blanco-Arana. 2022. Financial and economic development in the context of the global 2008\u201309 financial Crisis. International Economics 169: 30\u201342.","journal-title":"International Economics"},{"issue":"51","key":"227_CR3","doi-asserted-by":"publisher","first-page":"151","DOI":"10.1111\/manc.12335","volume":"88","author":"A Afonso","year":"2020","unstructured":"Afonso, A., and J. Leite. 2020. The transmission of unconventional monetary policy to bank credit supply: Evidence from the TLTRO. Manchester School 88(51): 151\u2013171.","journal-title":"Manchester School"},{"key":"227_CR4","doi-asserted-by":"publisher","first-page":"384","DOI":"10.1016\/j.iref.2012.07.004","volume":"35","author":"A Afonso","year":"2013","unstructured":"Afonso, A., and J. Tovar Jalles. 2013. Growth and productivity: The role of government debt. International Review of Economics and Finance 35: 384\u2013407.","journal-title":"International Review of Economics and Finance"},{"issue":"10","key":"227_CR5","first-page":"1361","volume":"3","author":"HM Aliero","year":"2013","unstructured":"Aliero, H.M., S.S. Ibrahim, and M. Shuaibu. 2013. An Empirical Investigation into the Relationship between Financial Sector Development and Unemployment in Nigeria. Asian Economic and Financial Review 3(10): 1361.","journal-title":"Asian Economic and Financial Review"},{"key":"227_CR6","doi-asserted-by":"publisher","first-page":"29","DOI":"10.1016\/0304-4076(94)01642-D","volume":"68","author":"M Arellano","year":"1995","unstructured":"Arellano, M., and O. Bover. 1995. Another Look at the Instrumental Variable Estimation of Error-components Models. Journal of Econometrics 68: 29\u201351.","journal-title":"Journal of Econometrics"},{"key":"227_CR7","unstructured":"Baltagi, B. (2001): Econometric Analysis of Panel Data. 2nd Edition. Wiley."},{"key":"227_CR8","volume-title":"Economic growth","author":"RJ Barro","year":"2003","unstructured":"Barro, R.J., and X. Sala-i-Martin. 2003. Economic growth. Cambridge: The MIT Press."},{"key":"227_CR9","doi-asserted-by":"publisher","first-page":"423","DOI":"10.1016\/S0378-4266(02)00408-9","volume":"28","author":"T Beck","year":"2004","unstructured":"Beck, T., and R. Levine. 2004. Stock market, banks, and growth: Panel evidence. Journal of Banking and Finance 28: 423\u2013442.","journal-title":"Journal of Banking and Finance"},{"key":"227_CR10","doi-asserted-by":"publisher","first-page":"597","DOI":"10.1093\/wber\/14.3.597","volume":"14","author":"T Beck","year":"2000","unstructured":"Beck, T., A. Demirg\u00fc\u00e7-Kunt, and R. Levine. 2000. \u201cA new database on the structure and development of the financial sector. World Bank Economic Review 14: 597\u2013605.","journal-title":"World Bank Economic Review"},{"key":"227_CR11","doi-asserted-by":"crossref","unstructured":"Belke, A. and Fehn, R. 2002: \u201cInstitutions and structural unemployment: Do capital market imperfections matter?\u201d, Ifo Studien - Zeitschrift f\u00a8ur empirische Wirtschaftsforschung 48: 405- 451.","DOI":"10.2139\/ssrn.277281"},{"key":"227_CR12","doi-asserted-by":"crossref","unstructured":"Benmelech, E., Bergman, N. and Seru, A. 2015: \u201cFinancing Labor\u201d,\u00a0National Bureau of Economic Research, 17144.","DOI":"10.2139\/ssrn.2608189"},{"issue":"2","key":"227_CR13","first-page":"251","volume":"54","author":"L Bernal-Verdugo","year":"2012","unstructured":"Bernal-Verdugo, L., D. Furceri, and D. Guillaume. 2012. \u201cLabor market flexibility and unemployment: New empirical evidence of static and dynamic effects\u201d, Comparative Economic Studies. Suppl. Special Issue: the Great Recession and European Labor 54(2): 251\u2013273.","journal-title":"Suppl. Special Issue: the Great Recession and European Labor"},{"key":"227_CR14","doi-asserted-by":"publisher","first-page":"115","DOI":"10.1016\/S0304-4076(98)00009-8","volume":"87","author":"R Blundell","year":"1998","unstructured":"Blundell, R., and S. Bond. 1998. Initial Conditions and Moment Restrictions in Dynamic Panel Data Models. Journal of Econometrics 87: 115\u2013143.","journal-title":"Journal of Econometrics"},{"key":"227_CR15","unstructured":"Boeri, T., Garibaldi, P. and Moen, E. 2013: \u201cLabor and Finance: Mortensen and Pissarides meet Holmstrom and Tirole\u201d, Meeting Papers\u00a0775, Society for Economic Dynamics."},{"issue":"2014","key":"227_CR16","doi-asserted-by":"publisher","first-page":"343","DOI":"10.1016\/j.jbankfin.2014.06.006","volume":"46","author":"H Boustanifar","year":"2014","unstructured":"Boustanifar, H. 2014. Finance and employment: evidence from U. S. Banking reforms. Journal of Banking and Finance 46(2014): 343\u2013354.","journal-title":"Journal of Banking and Finance"},{"key":"227_CR17","doi-asserted-by":"publisher","first-page":"239","DOI":"10.2307\/2297111","volume":"47","author":"T Breusch","year":"1980","unstructured":"Breusch, T., and A. Pagan. 1980. The Lagrange Multiplier test and its applications to model specification in econometrics. Review of Economic Studies 47: 239\u2013253.","journal-title":"Review of Economic Studies"},{"key":"227_CR18","volume-title":"Manual de Sistema Financiero Espa\u00f1ol","author":"A Calvo","year":"2014","unstructured":"Calvo, A., J.A. Parejo, L. Rodr\u00edguez, and A. Cuervo. 2014. Manual de Sistema Financiero Espa\u00f1ol. Barcelona: Ariel."},{"key":"227_CR19","doi-asserted-by":"crossref","unstructured":"Campello, M., Graham, J. and Harvey, C. 2009: \u201cThe Real Efects of Financial Constraints: Evidence from a Financial Crisis\u201d. NBER Working Paper No. 15552.","DOI":"10.3386\/w15552"},{"issue":"3","key":"227_CR20","doi-asserted-by":"publisher","first-page":"470","DOI":"10.1016\/j.jfineco.2010.02.009","volume":"97","author":"M Campello","year":"2010","unstructured":"Campello, M., J.R. Graham, and C.R. Harvey. 2010. The real effects of financial constraints: Evidence from a financial crisis. Journal of Financial Economics 97(3): 470\u2013487.","journal-title":"Journal of Financial Economics"},{"issue":"4","key":"227_CR21","doi-asserted-by":"publisher","first-page":"777","DOI":"10.1111\/jmcb.12638","volume":"52","author":"F Corsello","year":"2020","unstructured":"Corsello, F., and V. Nispi Landi. 2020. Labor Market and Financial Shocks: A Time-Varying Analysis. Journal of Money, Credit and Banking 52(4): 777\u2013801.","journal-title":"Journal of Money, Credit and Banking"},{"key":"227_CR22","doi-asserted-by":"publisher","first-page":"254","DOI":"10.1057\/ces.2016.2","volume":"58","author":"T Darcillon","year":"2016","unstructured":"Darcillon, T. 2016. Labor-Market Volatility and Financial Development in the Advanced OECD Countries: Does Labor-Market Regulation Matter? Comparative Economic Studies 58: 254\u2013278.","journal-title":"Comparative Economic Studies"},{"key":"227_CR23","first-page":"39","volume":"1","author":"G D\u00f6kmen","year":"2015","unstructured":"D\u00f6kmen, G., A. Aysu, and M.F. Bayramoglou. 2015. Linkages Between Market Capitalization and Economic Growth: The Case of Emerging Markets. Uluslararas\u0131 Ekonomik Ara\u015ft\u0131rmalar Dergisi 1: 39\u201348.","journal-title":"Uluslararas\u0131 Ekonomik Ara\u015ft\u0131rmalar Dergisi"},{"key":"227_CR24","doi-asserted-by":"publisher","first-page":"823","DOI":"10.1016\/j.labeco.2010.04.005","volume":"17","author":"NL Dromel","year":"2010","unstructured":"Dromel, N.L., E. Kolakez, and y Lehmann, E. 2010. Credit constraints and persistence of unemployment. Labour Economics 17: 823\u2013834.","journal-title":"Labour Economics"},{"key":"227_CR25","doi-asserted-by":"publisher","first-page":"89","DOI":"10.1016\/j.jmoneco.2014.12.011","volume":"75","author":"B Duygan-Bump","year":"2015","unstructured":"Duygan-Bump, B., A. Levkov, and J. Montoriol-Garriga. 2015. Financing constraints and unemployment: Evidence from the Great Recession. Journal of Monetary Economics 75: 89\u2013105.","journal-title":"Journal of Monetary Economics"},{"key":"227_CR26","doi-asserted-by":"publisher","first-page":"121","DOI":"10.1016\/j.jbankfin.2018.11.016","volume":"99","author":"M Garc\u00eda","year":"2018","unstructured":"Garc\u00eda, M. 2018. Credit constraints, firm investment and employment: Evidence from survey data. Journal of Banking and Finance 99: 121\u2013141.","journal-title":"Journal of Banking and Finance"},{"issue":"3","key":"227_CR27","doi-asserted-by":"publisher","first-page":"464","DOI":"10.1093\/oep\/gpr046","volume":"64","author":"D Gatti","year":"2012","unstructured":"Gatti, D., C. Rault, and A. Vaubourg. 2012. Unemployment and Finance: How do Financial and Labour Market Factors Interact? Oxford Economic Papers 64(3): 464\u2013489.","journal-title":"Oxford Economic Papers"},{"issue":"4","key":"227_CR28","doi-asserted-by":"publisher","first-page":"672","DOI":"10.2307\/3867589","volume":"45","author":"A Ghosh","year":"1998","unstructured":"Ghosh, A., and S. Phillips. 1998. Warning: Inflation May Be Harmful to Your Growth. IMF Staff Papers 45(4): 672\u2013710.","journal-title":"IMF Staff Papers"},{"issue":"3","key":"227_CR29","doi-asserted-by":"publisher","first-page":"929","DOI":"10.1162\/0033553041502162","volume":"119","author":"L Guiso","year":"2004","unstructured":"Guiso, L., P. Sapienza, and L. Zingles. 2004. Does Local Financial Development Mater? The Quarterly Journal of Economics 119(3): 929\u2013969.","journal-title":"The Quarterly Journal of Economics"},{"issue":"4","key":"227_CR30","doi-asserted-by":"publisher","first-page":"769","DOI":"10.1007\/s11079-018-9485-0","volume":"29","author":"A Hantzsche","year":"2018","unstructured":"Hantzsche, A., S. Savsek, and S. Weber. 2018. Labour Market Adjustment to Financing Conditions under Sectoral Rigidities in the Euro Area. Open Economies Review 29(4): 769\u2013794.","journal-title":"Open Economies Review"},{"key":"227_CR31","doi-asserted-by":"publisher","first-page":"1377","DOI":"10.2307\/1911406","volume":"49","author":"JA Hausman","year":"1981","unstructured":"Hausman, J.A., and W.E. Taylor. 1981. Panel data and unobservable individual effects. Econometrica 49: 1377\u20131398.","journal-title":"Econometrica"},{"key":"227_CR32","doi-asserted-by":"crossref","unstructured":"Hsiao, C. 2003: Analysis of Panel Data Cambridge: Cambridge University Press.","DOI":"10.1017\/CBO9780511754203"},{"key":"227_CR33","unstructured":"Internacional Monetary Fund (IMF, 2010). A Fair and Substantial Contribution by the Financial Sector, Final Report for the G-20."},{"issue":"2","key":"227_CR34","doi-asserted-by":"publisher","first-page":"519","DOI":"10.1007\/s00181-017-1284-8","volume":"55","author":"H Khieu","year":"2015","unstructured":"Khieu, H. 2015. Employment and output effetcs of financial shocks. Empirical Economics 55(2): 519\u2013550.","journal-title":"Empirical Economics"},{"key":"227_CR35","doi-asserted-by":"publisher","first-page":"523","DOI":"10.1016\/0014-2921(89)90131-1","volume":"33","author":"NA Klevmarken","year":"1989","unstructured":"Klevmarken, N.A. 1989. Panel studies: What can we learn from them? Introduction. European Economic Review 33: 523\u2013529.","journal-title":"European Economic Review"},{"key":"227_CR36","doi-asserted-by":"crossref","unstructured":"Koskela, E. and Stenbacka, R. 2002: \u2018Equilibrium unemployment and credit market imperfections: The critical role of labour market mobility\u2019, CESInfo Working Paper 654.","DOI":"10.2139\/ssrn.301176"},{"key":"227_CR37","first-page":"688","volume":"35","author":"R Levine","year":"1997","unstructured":"Levine, R. 1997. Financial development and economic growth: views and agenda. Journal of Economic Literature 35: 688\u2013726.","journal-title":"Journal of Economic Literature"},{"key":"227_CR38","doi-asserted-by":"crossref","unstructured":"Monacelli, T., Quadrini, V. and Trigari, A. 2011: \u201cFinancial Market and Unemployment\u201d. NBER Working Paper No. 17389.","DOI":"10.3386\/w17389"},{"key":"227_CR39","doi-asserted-by":"publisher","DOI":"10.1787\/empl_outlook-2010-en","volume-title":"OECD Employment Outlook 2010: Moving Beyond the Jobs Crisis","author":"OECD","year":"2010","unstructured":"OECD. 2010. OECD Employment Outlook 2010: Moving Beyond the Jobs Crisis. Par\u00eds: OECD Publishing."},{"key":"227_CR40","unstructured":"Okun, A.M. 1962: \u201cPotential GNP: Its Measurement and Significance\u201d, Proceedings of the Business and Economic Statistics Section American Statistical Association, 98-104."},{"key":"227_CR41","doi-asserted-by":"crossref","unstructured":"Pagano, M., Pica, G, Beck, T. and Kramarz, F. 2012: \u201cFinance and Employment\u201d. Economic Policy, 27(69): 5, 7-55.","DOI":"10.1111\/j.1468-0327.2011.00276.x"},{"issue":"1","key":"227_CR42","doi-asserted-by":"publisher","first-page":"227","DOI":"10.1093\/cje\/beu075","volume":"40","author":"C Perugini","year":"2015","unstructured":"Perugini, C., J. H\u00f6lscher, and S. Collie. 2015. Inequality, credit and financial crises. Cambridge Journal of Economics 40(1): 227\u2013257.","journal-title":"Cambridge Journal of Economics"},{"key":"227_CR43","doi-asserted-by":"publisher","first-page":"295","DOI":"10.1007\/s10663-016-9323-9","volume":"44","author":"M Prochniak","year":"2017","unstructured":"Prochniak, M., and K. Wasiak. 2017. The impact of the financial system on economic growth in the context of the global crisis: empirical evidence for the EU and OECD countries. Empirica 44: 295\u2013337.","journal-title":"Empirica"},{"key":"227_CR44","doi-asserted-by":"crossref","unstructured":"Rault, C. and Vaubourg, A. 2012: \u201cLabour market institutions and unemployment: Does finance matter?\u201d,\u00a0Comparative Economic Studies, Suppl.Symposium: Labour Market Institutions and Policies,\u00a054(1): 43-64.","DOI":"10.1057\/ces.2011.28"},{"issue":"3","key":"227_CR45","doi-asserted-by":"publisher","first-page":"393","DOI":"10.2307\/1907619","volume":"26","author":"JD Sargan","year":"1958","unstructured":"Sargan, J.D. 1958. The Estimation of Economic Relationships Using Instrumental Variables. Econometrica 26(3): 393\u2013415.","journal-title":"Econometrica"},{"key":"227_CR46","unstructured":"Sch\u00e4fer, D. and Steiner, S. 2014: \u201cFinancial Development and Employment \u2013 Evidence from Transition Countries\u201d, Discussion Papers of DIW Berlin\u00a01390, DIW Berlin, German Institute for Economic Research."},{"issue":"4","key":"227_CR47","doi-asserted-by":"publisher","first-page":"944","DOI":"10.1257\/0002828042002525","volume":"94","author":"E Wasmer","year":"2004","unstructured":"Wasmer, E., and P. Weil. 2004. The macroconomics of labour and credit market imperfections. American Economic Review 94(4): 944\u2013963.","journal-title":"American Economic Review"},{"key":"227_CR48","volume-title":"World Development Indicators 2023","author":"World Bank","year":"2023","unstructured":"World Bank. 2023. World Development Indicators 2023. Washington DC: World Bank."}],"container-title":["Comparative Economic Studies"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/link.springer.com\/content\/pdf\/10.1057\/s41294-023-00227-5.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/link.springer.com\/article\/10.1057\/s41294-023-00227-5\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/link.springer.com\/content\/pdf\/10.1057\/s41294-023-00227-5.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,12,17]],"date-time":"2024-12-17T15:03:51Z","timestamp":1734447831000},"score":1,"resource":{"primary":{"URL":"https:\/\/link.springer.com\/10.1057\/s41294-023-00227-5"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2023,11,11]]},"references-count":48,"journal-issue":{"issue":"4","published-print":{"date-parts":[[2024,12]]}},"alternative-id":["227"],"URL":"https:\/\/doi.org\/10.1057\/s41294-023-00227-5","relation":{},"ISSN":["0888-7233","1478-3320"],"issn-type":[{"value":"0888-7233","type":"print"},{"value":"1478-3320","type":"electronic"}],"subject":[],"published":{"date-parts":[[2023,11,11]]},"assertion":[{"value":"13 October 2023","order":1,"name":"accepted","label":"Accepted","group":{"name":"ArticleHistory","label":"Article History"}},{"value":"11 November 2023","order":2,"name":"first_online","label":"First Online","group":{"name":"ArticleHistory","label":"Article History"}}]}}