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

• Autore: Ilyina Anna
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Edizione: 1st ed.
• Descrizione fisica: 52 p. : ill
• Disciplina: 338.018
• Soggetto topico: Economic development; Convergence (Economics); Finance; Finance: General; Financial Markets and the Macroeconomy; Financial sector development; Financial services industry; Income economics; Industrial productivity; Labor Demand; Labor economics; Labor Economics: General; Labor; Labour; Macroeconomics; Macroeconomics: Production; Production and Operations Management; Productivity; Self-employed; Self-employment
• Soggetto geografico: United States
• Altri autori: SamaniegoRoberto
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Intro -- Contents -- I. Introduction -- II. Economic Environment -- A. Economic agents and firms -- B. Production -- C. Research -- D. Technological Frontier -- E. Aggregate equilibrium conditions -- III. Model Equilibrium -- A. Equilibrium research and productivity -- B. Industry growth -- C. Aggregate growth -- D. Industry growth patterns and structural change -- IV. Empirical analysis -- A. Decomposing industry growth -- B. Country data -- C. Industry data -- D. Empirical validity of model assumptions -- E. Cross-country industry growth regressions -- V. Concluding Remarks -- References -- Figures -- 1. Industry productivity dynamics, Region 1 -- 2. Industry productivity dynamics, Region 2 -- 3. Industry productivity dynamics, Region 3 -- 4. Productivity dynamics for different values of the borrowing limit -- 5. Structural change in a model economy with three industries -- 6. Patterns of industrial specialization along the growth path -- Tables -- 1. Regression of industry variables on RND at the firm level -- 2. Correlations between different industry measures -- 3. Interaction of R& -- D intensity and Ability measures with financial development in country-industry growth regressions. -- 4. Interaction of R& -- D intensity with financial development in country-industry growth regressions. -- 5. Interaction of Ability with financial development in country-industry growth regressions.
• 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: 9786612843341; 9781462301287; 1462301282; 9781451872668; 1451872666; 9781282843349; 1282843346; 9781451990294; 1451990294
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910961806003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/119