The relative importance of sector and country factors for leasing penetration rates across European industries.

We investigate the relative importance of sector and country factors in explaining the variation of leasing penetration rates across industries in Europe. According to our results, country effects represent the dominant driving factor for leasing when compared to sector effects. An explanation might be that the country factors overshadow the corresponding sector ones for they capture the depth and development of the leasing sector. [ABSTRACT FROM AUTHOR]