A Multi-industry Model of Growth with Financing Constraints / / Anna Ilyina, Roberto Samaniego

• Autore: Ilyina Anna
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 52 p. : ill
• Soggetto topico: Economic development; Convergence (Economics); Finance: General; Labor; Macroeconomics; Production and Operations Management; Macroeconomics: Production; Financial Markets and the Macroeconomy; Labor Demand; Labor Economics: General; Finance; Labour; income economics; Financial sector development; Productivity; Industrial productivity; Self-employment; Financial services industry; Self-employed; Labor economics
• Soggetto geografico: United States
• Altri autori: SamaniegoRoberto
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Sommario/riassunto: 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.
• Titolo autorizzato: A Multi-industry Model of Growth with Financing Constraints
• ISBN: 1-4623-0128-2; 1-4518-7266-6; 1-282-84334-6; 9786612843341; 1-4519-9029-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788334303321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/119