The second publication in the series "Institutions for People" focuses on the public development banks of Latin America and the Caribbean as they enter a new paradigm. In the last 10 to 15 years, these institutions have made considerable progress in the region towards fulfilling their undoubted...

The second publication in the series "Institutions for People" focuses on the public development banks of Latin America and the Caribbean as they enter a new paradigm. In the last 10 to 15 years, these institutions have made considerable progress in the region towards fulfilling their undoubted...

Using a unique panel data of Dutch innovation and financial variables we empirically investigate how financing and innovation vary across firm characteristics. The study also tries to gauge the extent of market failure due to the presence of financing frictions. Our main findings can be...

This paper analyzes the effectiveness of public credit lines in promoting the performances of Brazilian firms. We focus on the impact of the credit lines managed by BNDES and FINEP in fostering growth measured in terms of employment, labor productivity and export. For this purpose, we use a...

Government-owned development banks have often been justified by the need to respond to financial market imperfections that hinder the establishment and growth of promising businesses, and as a result, stifle economic development more generally. However, evidence on the effectiveness of these...

This paper analyzes the effectiveness of public credit lines in promoting the performances of Brazilian firms. We focus on the impact of the credit lines managed by BNDES and FINEP in fostering growth measured in terms of employment, labor productivity and export. For this purpose, we use a...

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly been estimated on cross-sectional data. It considers four nonlinear dynamic simultaneous equations models that include individual effects and idiosyncratic errors correlated...

The paper investigates the relationship between government interventions to promote investments in innovation and firms-financed R&D. Merging a unique panel data set on Argentinean firms in the 1990s with a data base on different types of public support received through FONTAR program, we...

Government-owned development banks have often been justified by the need to respond to financial market imperfections that hinder the establishment and growth of promising businesses, and as a result, stifle economic development more generally. However, evidence on the effectiveness of these...

This paper assesses the impact of a cluster development policy in Latin America. A Local Productive Arrangement (APL) is a cluster of firms within the same territory, operating around the same activity and maintaining ties of cooperation and learning among themselves and with other stakeholders....