| Description |
1 online resource (35 pages) |
| Series |
IMF working paper ; WP/10/49 |
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IMF working paper ; WP/10/49.
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| 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 |
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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 |
| 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 |
| Notes |
"February 2010." |
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At head of title: Strategy, Policy and Review and African Departments |
| Bibliography |
Includes bibliographical references (pages 18-20) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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Print version record |
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digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Technological innovations.
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Technological innovations -- Finance
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Industrial productivity.
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Performance technology.
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Labor productivity.
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Performance technology
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Labor productivity
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Industrial productivity
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Technological innovations
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Technological innovations -- Finance
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| Form |
Electronic book
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| Author |
Kersting, Erasmus, author.
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Verdier, Geneviève, 1973- author.
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International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
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International Monetary Fund. African Department, issuing body.
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| ISBN |
1283567768 |
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9781283567763 |
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9781452748030 |
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1452748039 |
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