particular focus on the role played by financial frictions and investment dynamics. The paper provides two main contributions …. First, we empirically document that lower investment during financial crises is the key factor leading to permanent loss of …

detail the impact of low oil prices on investment. The framework alsocaptures the impact of current and planned policies on … investment, partly offsetting the sharpdecline in oil investment. Improvements in productivity are essential to lift potential …

result of low investment. Latin America is poorer because of lower human capital levels and lower TFP-not because of a lower … business climate indicators converge rapidly. Poor countries without those attributes do not. We show that low investment is …

Recent literature has shown that corporate indebtedness affects firm-level investment behavior but not necessarily … substitute depressed investment by their financially constrained competitors. The increase in investment, primarily driven by … equilibrium effects are unambiguously countercyclical because the increase in investment by unconstrained firms does not crowd out …

, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced … economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial …