The DOI matches its Crossref record; 45 of the 45 references it cites were found in a registry or an index.
Finance and the Business Cycle: International, Inter‐Industry Evidence
Open accessAbstract
By considering yearly production growth rates for several manufacturing industries in more than 100 countries during (roughly) the last 40 years, we show that industries that are more dependent on external finance are hit harder during recessions. The observed difference in the behavior of industries is larger when financial frictions are thought to be more prevalent, linking the result directly to the financial mechanism hypothesis. In particular, more dependent industries are more strongly affected in recessions when they are located in countries with poor financial contractibility, and when their assets are softer or less protective of financiers.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
The colonial origins of comparative development: An empirical investigation
Acemoglu, D., Johnson, S., & Robinson, J. A. (2001) · American Economic Review · doi:10.1257/aer.91.5.1369 · Cited by 8,517
Financial Dependence and Growth
Rajan, R., & Zingales, L. (1996) · National Bureau of Economic Research · doi:10.3386/w5758 · Cited by 7,730
Postwar U.S. Business Cycles: An Empirical Investigation
Hodrick, R. J., & Prescott, E. C. (1997) · Journal of Money, Credit and Banking · doi:10.2307/2953682 · Cited by 7,349
Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?
Kaplan, S. N., & Zingales, L. (1997) · The Quarterly Journal of Economics · doi:10.1162/003355397555163 · Cited by 6,770
The Colonial Origins of Comparative Development: An Empirical Investigation: Reply
Acemoglu, D., Johnson, S., & Robinson, J. A. (2012) · American Economic Review · doi:10.1257/aer.102.6.3077 · Cited by 6,047
Financing Constraints and Corporate Investment
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988) · Brookings Papers on Economic Activity · doi:10.2307/2534426 · Cited by 5,574
Economic Reform and the Process of Global Integration
Sachs, J. D., Warner, A., Aslund, A., & Fischer, S. (1995) · Brookings Papers on Economic Activity · doi:10.2307/2534573 · Cited by 4,950
Kiyotaki, N., & Moore, J. (1997) · Journal of Political Economy · doi:10.1086/262072 · Cited by 4,694
Financial Development and Economic Growth: Views and Agenda
Levine, R. E. (n.d.) · RePEc: Research Papers in Economics · Cited by 4,687
Cited by
The real effect of banking crises
Dell'Ariccia, G., Detragiache, E., & Rajan, R. (2008) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2007.06.001 · Cited by 773
Enqvist, J., Graham, M., & Nikkinen, J. (2014) · Research in International Business and Finance · doi:10.1016/j.ribaf.2014.03.005 · Cited by 483
Financial innovation: The bright and the dark sides
Beck, T., Chen, T., Lin, C., & Song, F. M. (2016) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2016.06.012 · Cited by 426
Financing constraints and unemployment: Evidence from the Great Recession
Duygan-Bump, B., Levkov, A., & Montoriol-Garriga, J. (2015) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2014.12.011 · Cited by 296
Botev, J., Égert, B., & Jawadi, F. (2019) · International Economics · doi:10.1016/j.inteco.2019.06.004 · Cited by 153
Metadata
- Authors
- BRAUN, M., & LARRAIN, B.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2005-05-03
- Volume
- 60
- Issue
- 3
- Pages
- 1097-1128
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2060569030
- Cited by
- 498
- References
- 45
- FWCI
- 30.38
- Type
- journal article
- Language
- en
- Open access
- green
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Finance and the Business Cycle: International, Inter‐Industry Evidence. https://app.cochat.ai/papers/10.1111/j.1540-6261.2005.00757.x
- The paper
- BRAUN, M., & LARRAIN, B. (2005). Finance and the Business Cycle: International, Inter‐Industry Evidence. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2005.00757.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
