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This paper extends the endogenous-growth agent-based model in Fagiolo& Dosi (2003) to study the finance-growth nexus. We explore industries where firms produce a homogeneous good using existing technologies, perform R&D activities to introduce new techniques, and imitate the most productive...
Persistent link: https://www.econbiz.de/10011752444
This paper uses a large language model to develop an ex-ante measure of the commercial potential of scientific findings. In addition to validating the measure against the typical holdout sample, we validate it externally against 1.) the progression of scientific findings through a major...
Persistent link: https://www.econbiz.de/10014512116
Innovations in consumer products frequently rely on technological advances across multiple tiers in a supply chain …
Persistent link: https://www.econbiz.de/10012948571
technology innovations, and process disruptions. The industry as a whole, and many new fintech start-ups are looking for new …) operations management in financial services, and the changes that are occurring there; (2) technology innovations that have begun … technologies, and cross-border payment services; (3) multiple fintech innovations that have impacted lending and deposit services …
Persistent link: https://www.econbiz.de/10012917586
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This paper argues that excessive financial development in combination with high levels of technological innovation or R&D activities may lead to the former being ineffective in generating economic growth. This hypothesis is examined through a dynamic panel analysis using two measures of...
Persistent link: https://www.econbiz.de/10013034506
Focusing on technology spillover from foreign direct investment (FDI) inflows, this paper investigates the welfare implications of financial integration. Calibrations of a neoclassical growth model with international technology diffusion show that when technology catch-up due to FDI inflows is...
Persistent link: https://www.econbiz.de/10010529709
We examine how financial market development affects technological innovation. Using a large data set that includes 32 developed and emerging countries and a fixed effects identification strategy, we identify economic mechanisms through which the development of equity markets and credit markets...
Persistent link: https://www.econbiz.de/10013068738
This study investigates the effects of financial deepening on innovation efficiency for various democratic levels of political institutions using panel data from 69 countries spanning 1970-2010. Banking market deepening is associated with increased innovation efficiency only when political...
Persistent link: https://www.econbiz.de/10011621252