Firm productivity, innovation and financial development /

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Bibliographic Details
Author / Creator:Dabla-Norris, Era, author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2010.
Description:1 online resource (35 pages)
Series:IMF working paper ; WP/10/49
IMF working paper ; WP/10/49.
Subject:Technological innovations.
Technological innovations -- Finance.
Industrial productivity.
Industrial productivity.
Technological innovations.
Technological innovations -- Finance.
Electronic books.
Format: E-Resource Book
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Other authors / contributors:Kersting, Erasmus, author.
Verdier, Geneviève, 1973- author.
International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
International Monetary Fund. African Department, issuing body.
Notes:"February 2010."
At head of title: Strategy, Policy and Review and African Departments.
Includes bibliographical references (pages 18-20).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2014.
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Summary:How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial sector in facilitating higher productivity? Using a rich firm-level dataset, we find that innovation is crucial for firm performance as it directly and measurably increases productivity. Moreover, its effects on productivity are mediated through the financial sector; firms reap the maximum benefits from innovation in countries with well-developed financial sectors. This effect is particularly important for firms in high-tech sectors, which typically have higher external financing needs.
Other form:Print version: Dabla-Norris, Era. Firm productivity, innovation and financial development. [Washington, D.C.] : International Monetary Fund, ©2010
Table of Contents:
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Total Factor Productivity, Innovation and Financial Development; A. Financial Development and Economic Growth; B. Financial Development, Innovation and TFP; III. Explaining and estimating Firm Productivity; IV. Data and methodology; A. Data and Summary Statistics; 1. Sample of Countries; 2. Summary Statistics; 3. Distribution of Firms; 4. Correlation Matrix; B. Baseline Specification; C. Results; Baseline regressions; 5. Baseline Regression; Impact of business climate; 6. Business Climate; Controlling for endogeneity.
  • 7. Baseline Regression with Aggregated InnovationInnovation and financial development; 8. Financial Development and Innovation: Interaction Effects; 9. Productivity, Innovation, and Financial Development: High Tech and Low Tech Industries; Measuring productivity; 10. Baseline Regression-TFP; 11. Financial Development and Innovation: Interaction Effects
  • TFP Measure; D. Robustness; 12. Robustness Tests; V. Conclusion; 1. Data Variables and Sources; References; Footnotes.