Financial Shocks and TFP L4318Growth
Resource Information
The work Financial Shocks and TFP L4318Growth represents a distinct intellectual or artistic creation found in University of San Diego Libraries. This resource is a combination of several types including: Work, Language Material, Books.
The Resource
Financial Shocks and TFP L4318Growth
Resource Information
The work Financial Shocks and TFP L4318Growth represents a distinct intellectual or artistic creation found in University of San Diego Libraries. This resource is a combination of several types including: Work, Language Material, Books.
- Label
- Financial Shocks and TFP L4318Growth
- Statement of responsibility
- Tiago Severo
- 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
- Cataloging source
- LLB
- 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
- Series statement
- IMF Working Paper,
- Series volume
- WP/10/23
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/resource/IdobLMSLmUI/" typeof="CreativeWork http://bibfra.me/vocab/lite/Work"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/resource/IdobLMSLmUI/">Financial Shocks and TFP L4318Growth</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
