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|z 9781451872668
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|a 1018-5941
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|a Ilyina, Anna.
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|a A Multi-industry Model of Growth with Financing Constraints /
|c Anna Ilyina, Roberto Samaniego.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2009.
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|a 1 online resource (52 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper develops a multi-industry growth model in which firms require external funds to conduct productivity-enhancing R and 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 and 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 and D intensity.
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|a Mode of access: Internet
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|a Samaniego, Roberto.
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|a IMF Working Papers; Working Paper ;
|v No. 2009/119
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2009/119/001.2009.issue-119-en.xml
|z IMF e-Library
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