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may be positive or negative, depending on foreign countries' trade position. -- innovation ; financial development ; R …
Persistent link: https://www.econbiz.de/10009240877
The paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Depending on R&D choice, innovative firms are more productive, have larger investment opportunities and lower own funds than non-innovating firms. As a result, innovative firms are financially...
Persistent link: https://www.econbiz.de/10008542816