Shocks, Financial Dependence, and Efficiency : Evidence From U.S. and Canadian Industries

Evidence From U.S. and Canadian Industries

Shocks, Financial Dependence, and Efficiency : Evidence From U.S. and Canadian Industries
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... READ MORE...

Publication date: August 2011
ISBN 9781462304226
$18.00

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