The Missing Link Between Financial Constraints and Productivity

Released on by Marialuz Moreno Badia
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  • The Missing Link Between Financial Constraints and Productivity Book Detail

  • Author : Marialuz Moreno Badia
  • Release Date : 2009-04-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 41
  • ISBN 13 : 1451872194
  • File Size : 42,42 MB
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The Missing Link Between Financial Constraints and Productivity by Marialuz Moreno Badia PDF Summary

Book Description: The global financial crisis has reopened the debate on the potential spillover effects from the financial sector to the real economy. This paper adds to that debate by providing new evidence on the link between finance and firm-level productivity, focusing on the case of Estonia. We contribute to the literature in two important respects: (i) we look explicitly at the role of financial constraints; and (ii) we develop a methodology that corrects for the misspecification problems of previous studies. Our results indicate that young and highly indebted firms tend to be more financially constrained. Overall, a large number of firms shows some degree of financial constraints, with firms in the primary sector being the most constrained. More importantly, we find that financial constraints do not lower productivity for most sectors.

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Credit Supply and Productivity Growth

Credit Supply and Productivity Growth

File Size : 42,42 MB
Total View : 5218 Views
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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,