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Author: Francesco Manaresi
Publisher: International Monetary Fund
ISBN: 1498315917
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Author: Francesco Manaresi
Publisher: International Monetary Fund
ISBN: 1498315917
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Author: Inter-American Development Bank
Publisher: Springer
ISBN: 1349581518
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.
Author: Ufuk Akcigit
Publisher: Harvard University Press
ISBN: 0674270363
Category : Creative destruction
Languages : en
Pages : 785
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Book Description
Leading social scientists explore pressing issues--monopoly and inequality, growth and innovation, climate change and fraying social safety nets--through the lens of creative destruction. Far more than a theory of capitalist dynamics, creative destruction proves an important idea for illuminating a wide range of social and political challenges.
Author: Subhash C. Ray
Publisher: Springer Nature
ISBN: 9811034559
Category : Business & Economics
Languages : en
Pages : 1797
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Book Description
This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.
Author: Désiré Avom
Publisher: Cambridge Scholars Publishing
ISBN: 1527553884
Category : Business & Economics
Languages : en
Pages : 591
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Book Description
This book offers various insights on current hot topics in development economics. The authors address the questions of gender effects, leapfrogging, the factors determining the production frontiers of countries, and the respective roles of financial, monetary and fiscal policies in fostering the development of countries. They also question one of the strategies utilized by policy makers in poor countries: development through trade and financial globalization. They ask whether education has really been a factor in development, and look at the role of those who return to the country after studying abroad. This book is the result of a collaboration between researchers from Asia, Africa and Europe. It will be useful to economists and non-economists working in academia (including postgraduate students), as well as professionals working in development institutions and public institutions responsible for strategic planning in developing and emerging countries.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264279172
Category :
Languages : en
Pages : 222
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Book Description
The 32nd issue of the International Productivity Monitor is a special issue produced in collaboration with the OECD. All articles published in this issue were selected from papers presented at the First Annual Conference of the OECD Global Forum on Productivity held in Lisbon, Portugal, July ...
Author: Philippe Aghion
Publisher: Harvard University Press
ISBN: 0674258665
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
Hayek Book Prize Finalist An Economist Best Book of the Year A Foreign Affairs Best Book of the Year From one of the world’s leading economists and his coauthors, a cutting-edge analysis of what drives economic growth and a blueprint for prosperity under capitalism. Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more and more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction—innovation that disrupts, but that over the past two hundred years has also lifted societies to previously unimagined prosperity. To explain, Philippe Aghion, Céline Antonin, and Simon Bunel draw on cutting-edge theory and evidence to examine today’s most fundamental economic questions, including the roots of growth and inequality, competition and globalization, the determinants of health and happiness, technological revolutions, secular stagnation, middle-income traps, climate change, and how to recover from economic shocks. They show that we owe our modern standard of living to innovations enabled by free-market capitalism. But we also need state intervention with the appropriate checks and balances to simultaneously foster ongoing economic creativity, manage the social disruption that innovation leaves in its wake, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them to thwart tomorrow’s. A powerful and ambitious reappraisal of the foundations of economic success and a blueprint for change, The Power of Creative Destruction shows that a fair and prosperous future is ultimately ours to make.
Author: Ms.Deniz O Igan
Publisher: International Monetary Fund
ISBN: 1484352173
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
We examine the extent to which regulations of entry and credit access are related to competition using data on 28 manufacturing sectors across 64 countries. A robust finding is that bureaucratic and costly entry regulations tend to hamper competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are also associated with a larger average firm size. Conversely, credit information registries are associated with lower price-cost margin and smaller average firm size in industries that rely heavily on external finance—consistent with access to finance exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market share arising from strict entry regulations, whereas regulations enhancing access to credit limit such benefits.
Author: Ms. Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513572660
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.
Author: National Bureau of Economic Research
Publisher: Princeton University Press
ISBN: 1400879760
Category : Political Science
Languages : en
Pages : 647
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Book Description
The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
