A Multi-industry Model of Growth with Financing Constraints

A Multi-industry Model of Growth with Financing Constraints
This paper develops a multi-industry growth model in which firms require external funds to conduct productivity-enhancing R&D. The cost of research is industry-specific. The tightness of financing constraints depends on the level of financial development and on industry characteristics. Over time, a financially constrained economy may... READ MORE...

Publication date: May 2009
ISBN 9781451872668
$18.00

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