Coverart for item
The Resource Financial Shocks and TFP L4318Growth, Tiago Severo

Financial Shocks and TFP L4318Growth, Tiago Severo

Label
Financial Shocks and TFP L4318Growth
Title
Financial Shocks and TFP L4318Growth
Statement of responsibility
Tiago Severo
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using industries' dependence on external funding as an identification mechanism, we show that increases in the cost of funds have a statistically significant and economically meaningful negative impact on TFP growth. This finding cannot be explained by either increasing returns to scale or factor hoarding, as results are not sensitive to controlling for industry size and our calculations account for changes in factor utilization. Based on a stylized theoretical model, the estimates suggest that financial shocks distort the allocation of factors across firms even within an industry, reducing its TFP. The decline in productivity growth accounts for a large fraction of the negative impact of funding costs on output
Member of
Cataloging source
LLB
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Severo, Tiago
Government publication
international or intergovernmental publication
Index
no index present
LC call number
HG3881.5.I58 ONLINE
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Estevão, Marcello M
  • Severo, Tiago
Series statement
IMF Working Paper,
Series volume
WP/10/23
http://library.link/vocab/subjectName
  • Business Cycle
  • Corporate Bonds
  • Financial Shocks
  • TFP
  • Canada
  • United States
Label
Financial Shocks and TFP L4318Growth, Tiago Severo
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
951628333
Dimensions
unknown
Extent
1 online resource (36 pages)
Form of item
online
Isbn
9781451962376
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451962376.001
Specific material designation
remote
System control number
  • imfWPIEA2010023
  • (IMF)WPIEA2010023
  • (OCoLC)951628333
Label
Financial Shocks and TFP L4318Growth, Tiago Severo
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
951628333
Dimensions
unknown
Extent
1 online resource (36 pages)
Form of item
online
Isbn
9781451962376
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451962376.001
Specific material designation
remote
System control number
  • imfWPIEA2010023
  • (IMF)WPIEA2010023
  • (OCoLC)951628333

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