03828oam 22009974 450 991078833430332120230721045653.01-4623-0128-21-4518-7266-61-282-84334-697866128433411-4519-9029-4(CKB)3170000000055273(SSID)ssj0000940019(PQKBManifestationID)11491945(PQKBTitleCode)TC0000940019(PQKBWorkID)10946748(PQKB)11304201(OCoLC)649720005(MiAaPQ)EBC1605913(IMF)WPIEE2009119(EXLCZ)99317000000005527320020129d2009 uf 0engurcn|||||||||txtccrA Multi-industry Model of Growth with Financing Constraints /Anna Ilyina, Roberto SamaniegoWashington, D.C. :International Monetary Fund,2009.52 p. illIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1696-5 Includes bibliographical references.This paper develops a multi-industry growth model in which firms require external funds to conduct productivity-enhancing R&D. The cost of research is industry-specific. The tightness of financing constraints depends on the level of financial development and on industry characteristics. Over time, a financially constrained economy may converge to the growth path of a frictionless economy, so long as an industry with the fastest expanding technological frontier does not permanently fall behind due to low R&D. The model’s industry dynamics map into a differences-in-differences regression, in which industry growth depends on the interaction between financial development and industry level R&D intensity.IMF Working Papers; Working Paper ;No. 2009/119Economic developmentConvergence (Economics)Finance: GeneralimfLaborimfMacroeconomicsimfProduction and Operations ManagementimfMacroeconomics: ProductionimfFinancial Markets and the MacroeconomyimfLabor DemandimfLabor Economics: GeneralimfFinanceimfLabourimfincome economicsimfFinancial sector developmentimfProductivityimfIndustrial productivityimfSelf-employmentimfFinancial services industryimfSelf-employedimfLabor economicsimfUnited StatesimfEconomic development.Convergence (Economics)Finance: GeneralLaborMacroeconomicsProduction and Operations ManagementMacroeconomics: ProductionFinancial Markets and the MacroeconomyLabor DemandLabor Economics: GeneralFinanceLabourincome economicsFinancial sector developmentProductivityIndustrial productivitySelf-employmentFinancial services industrySelf-employedLabor economicsIlyina Anna1472679Samaniego Roberto1472680International Monetary Fund.DcWaIMFBOOK9910788334303321A Multi-industry Model of Growth with Financing Constraints3685548UNINA