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Financial constraints and innovation : why poor countries don't catch up

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Financial constraints and innovation : why poor countries don't catch up

Gorodnichenko, Yuriy; Schnitzer, Monika - 2010

We examine micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey data...

Persistent link: https://www.econbiz.de/10008823197

Financial constraints and innovation : why poor countries don’t catch up

Gorodnichenko, Yuriy; Schnitzer, Monika - 2010

This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...