LEADER 06823oam 22014054 450 001 9910788233603321 005 20230721045655.0 010 $a1-4623-0534-2 010 $a1-4527-8843-X 010 $a1-282-84133-5 010 $a1-4518-7040-X 010 $a9786612841330 035 $a(CKB)3170000000055072 035 $a(EBL)1607943 035 $a(SSID)ssj0000943288 035 $a(PQKBManifestationID)11550395 035 $a(PQKBTitleCode)TC0000943288 035 $a(PQKBWorkID)10975194 035 $a(PQKB)10329121 035 $a(OCoLC)762729026 035 $a(MiAaPQ)EBC1607943 035 $a(IMF)WPIEE2008182 035 $a(EXLCZ)993170000000055072 100 $a20020129d2008 uf 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aTechnology and Finance /$fAnna Ilyina, Roberto Samaniego 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (44 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/182 300 $aDescription based upon print version of record. 311 $a1-4519-1493-8 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Theories of Finance and Technology; A. Financial Development and the Ability to Raise Funds; B. Financial Development and the Need to Raise Funds; C. Financial Development and Industry Growth; D. Technology; Tables; 1. Production Technology: Need for External Finance vs. Ability to Raise External Funds; III. Data; A. Finance Dependence; B. Technological Measures; C. Financial Development Measures; IV. Empirical Relationships between Technological Measures and EFD; V. Technology, Financial Development and Industry Growth; VI. Persistence and Robustness 327 $aA. 1970's and 1990's B. Other Measures of Financial Development; C. Endogeneity of Financial Development; D. Does Firm Age Matter?; Figure; 1. EFD, LMP and RND over the Firm Lifecycle; VII. Concluding Remarks; 2A. Industry Classification and Technological Measures; 2B. Financial Development Measures; 3. Correlations Across Decades; 4. Correlations Among Technological Measures; 5. Correlations of Technological Measures with EFD; 6. Cross-country Industry Growth Regressions with CRE as a Measure of Financial Development; 7. The "Horse Race" between EFD, LMP and RND 327 $a8. Cross-country Industry Growth Regressions with CAP as a Measure of Financial Development... 9. Cross-country Industry Growth Regressions with FOR as a Measure of Financial Development; 10. Cross-country Industry Growth Regressions with Lagged Financial Development Measures; 11. Cross-country Industry Growth Regressions with Instrumental Variables; 12. Correlations between RND, EFD, LMP for Young and Mature Firms; 13. Cross-country Industry Growth Regressions for Different Age Groups; References 330 3 $aThe benefits from financial development are known to vary across industries. However, no systematic effort has been made to determine the technological characteristics that are shared by industries that tend to grow relatively faster in more financially developed countries. This paper explores a range of technological characteristics that might underpin differences across industries in the need or the ability to raise external funding. 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