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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
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
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
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
We show that the expansion of financial sector may hurt innovative activities and hence the innovation-led growth, using data on 50 countries over the 1990-2016 period. Countries with higher level of financial development are found to have a smaller positive or insignificant effect on...
Persistent link: https://www.econbiz.de/10012907577
innovations. New financing instruments and attracting private investors to technology transfer (TT) are necessary but difficult as …
Persistent link: https://www.econbiz.de/10013068018
In this paper we investigate the effect of local banking development on firms' innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990's. There is evidence that banking development affects the probability of process innovation, particularly...
Persistent link: https://www.econbiz.de/10003297705
Persistent link: https://www.econbiz.de/10011539387