This paper attempts to establish a formal relationship between innovation and productivity using Colombian firm-level data. It is found that the production of goods and services new to the firm and to the domestic market enhances firms' sales per worker, and innovation that results in...

This paper evaluates the degree to which Colombian firms face credit restrictions that alter their investment decisions. It analyzes whether the evolution of the financial sector during the 1990s, characterized by an intense financial liberalization, an increase in size and a deepening of the...