Firm Productivity, Innovation, and Financial Development

被引：46

作者：

Dabla-Norris, Era ^{[1
]}

Kersting, Erasmus K. ^{[2
]}

Verdier, Genevieve ^{[1
]}

机构：

[1] Int Monetary Fund, Washington, DC 20431 USA

[2] Villanova Univ, Dept Econ, Villanova, PA 19085 USA

来源：

SOUTHERN ECONOMIC JOURNAL | 2012年 / 79卷 / 02期

关键词：

RESEARCH-AND-DEVELOPMENT; INVESTMENT CLIMATE; GROWTH; LIBERALIZATION; CONSTRAINTS; VARIABLES; IMPROVE; SIZE;

D O I：

10.4284/0038-4038-2011.201

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

How do firm-specific actions-in particular, innovation-affect firm productivity? What is the role of the financial sector in facilitating higher productivity? Using a rich firm-level data set, we find that innovation is crucial for firm performance as it directly and measurably increases productivity. The impact of innovation on productivity is larger in less-developed countries. Evidence of financial sector development influencing the innovation-productivity link is weak, but the effect is difficult to identify due to correlation between indicators of a country's financial and nonfinancial development. Furthermore, we find evidence that the innovation effect on productivity is more significant for high-tech firms than for low-tech firms.

引用

页码：422 / 449

页数：28

共 45 条

[1] The quality effect: Does financial liberalization improve the allocation of capital? [J].