Financial Frictions and the Great Productivity Slowdown

Financial Frictions and the Great Productivity Slowdown
We study the role of financial frictions in explaining the sharp and persistent productivity growth slowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country, firm-level data set and exploiting quasi-experimental variation in firm-level exposure to the crisis, we find that the combination of pre-existing... READ MORE...

Publication date: May 2017
ISBN 9781484300701
$18.00

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