Financial Development And Innovation Led Growth
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Financial Development And Innovation Led Growth
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Author : Stylianos Asimakopoulos
language : en
Publisher:
Release Date : 2018
Financial Development And Innovation Led Growth written by Stylianos Asimakopoulos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We show that the expansion of financial sector may hurt innovative activities and hence the innovation-led growth, using data on 50 countries over the 1990-2016 period. Countries with higher level of financial development are found to have a smaller positive or insignificant effect on innovation. The marginal effect of innovation on growth is a decreasing function of financial development. Using a dynamic panel threshold method we re-examine the possible non-linearity between finance, innovation, and growth. We find that innovation exhibits an insignificant effect on output growth when credit to the private sector exceeds the level of 60% as a share of GDP. These results are not driven by banking crises, the long run effect of 2007-2008 financial crisis, or the ongoing European sovereign debt crisis.
Financing Productivity And Innovation Led Growth In Developing Asia
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Author : Ajai Chopra
language : en
Publisher:
Release Date : 2015
Financing Productivity And Innovation Led Growth In Developing Asia written by Ajai Chopra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Mission Oriented Finance For Innovation
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Author : Mariana Mazzucato
language : en
Publisher: Rowman & Littlefield
Release Date : 2015-03-06
Mission Oriented Finance For Innovation written by Mariana Mazzucato and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-06 with Political Science categories.
The role of the state in modern capitalism has gone beyond fixing market failures. Those regions and countries that have succeeded in achieving “smart” innovation-led growth have benefited from long-term visionary “mission-oriented” policies—from putting a man on the moon to tackling societal challenges such as climate change and the wellbeing of an ageing population. This book collects the experience of different types of mission-oriented public institutions around the world, together with thought-provoking chapters from leading economists. As the global debate on deficits and debt levels continues to roar, the book offers a challenge to the conventional narrative—asking what kinds of visionary fiscal policies we need to help promote "smart” innovation-led, inclusive, and sustainable growth.
Financial Development And Innovation In Small Firms
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Author : Sharma
language : en
Publisher: World Bank Publications
Release Date : 2007
Financial Development And Innovation In Small Firms written by Sharma and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Access to Finance categories.
Abstract: This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysis finds that relative to large firms in the same industry, spending on research and development by small firms is more likely and sizable in countries at higher levels of financial development. The estimates imply that among firms doing research and development in a country like Romania, which is at the 20th percentile of financial development, a 1 standard deviation decrease in firm size is associated with a decrease of 0.7 standard deviations in research and development spending. In contrast, this decrease is only 0.2 standard deviations in a country like South Africa, which is at the 80th percentile of the distribution of financial development. Small firms also report producing more innovations per unit of research and development spending than large firms, and this gap is narrower in countries at higher levels of financial development. As a robustness check, the author shows that these patterns are stronger in industries inherently more reliant on external finance.
Too Much Finance
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Author : Mr.Jean-Louis Arcand
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-01
Too Much Finance written by Mr.Jean-Louis Arcand and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-01 with Business & Economics categories.
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.
Spurring Innovation Led Growth In Argentina
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Author : Tugba Gurcanlar
language : en
Publisher: World Bank Publications
Release Date : 2021-05-31
Spurring Innovation Led Growth In Argentina written by Tugba Gurcanlar and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-31 with Business & Economics categories.
Anew, innovation-led growth model would enable Argentina to increase economic stability and achieve stronger shared prosperity. Argentina can escape boom-and-bust cycles and accelerate its recovery from the COVID-19 pandemic with an innovation-driven economy that, in addition to factor accumulation, fuels higher productivity growth across all its sectors. Such a growth model should build on Argentina’s strengths in human capital, research, and firm-level capabilities, which would help diversify the economy and make it more inclusive and less susceptible to external shocks, providing the country with a stronger buffer at times of uncertainty. Despite the volatility of the past few decades, Argentina has been able to develop important pockets of success in high-end research and in frontier productive sectors such as biotechnology and knowledge economy. All of these should be better exploited and strengthened through public-private partnerships, targeted investments, and an enabling business environment to increase innovation’s contribution to economic growth. A resilient economic recovery will, in part, require a long-term vision and a policy framework that builds a sustainable national innovation system. To contribute to the strengthening of such a national innovation system, this report reviews holistically the innovation performance in Argentina, identifies some of the main gaps and strengths, and discusses appropriate policy responses. The report also examines regional differences in innovation performance and reviews the policy effectiveness of recent initiatives that have focused on industry and science linkages and knowledge-based entrepreneurship. The lessons from these impact evaluations and fi ndings of the comparative evaluation of Argentina’s innovation landscape are intended to provide guidance in the design and strengthening of existing and future innovation policies in Argentina.
Handbook Of Finance And Development
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Author : Thorsten Beck
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018-07-27
Handbook Of Finance And Development written by Thorsten Beck and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
This Handbook provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.
Financial Development And Economic Growth
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Author : C. Goodhart
language : en
Publisher: Springer
Release Date : 2004-06-13
Financial Development And Economic Growth written by C. Goodhart and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-13 with Business & Economics categories.
The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.
Handbook Of Research On Managerial Thinking In Global Business Economics
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Author : Dinçer, Hasan
language : en
Publisher: IGI Global
Release Date : 2018-12-07
Handbook Of Research On Managerial Thinking In Global Business Economics written by Dinçer, Hasan and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Business & Economics categories.
In a highly competitive global market, companies need to equip themselves with best practices and strategies to survive. Strategic management, innovative managerial thinking, and a clear decision-making process must be utilized to boost company performance and ultimately drive the company’s success. The Handbook of Research on Managerial Thinking in Global Business Economics identifies the importance of strategic decision making in competitive environments and analyzes the impacts of managerial thinking on global financial economics. The content within this publication examines globalization, consumer behavior, and risk management. It is designed for researchers, academicians, policymakers, government officials, and managers, and covers topics centered on innovation and development within organizations.
Financing The Future
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Author : Franklin Allen
language : en
Publisher: Pearson Prentice Hall
Release Date : 2010-03-23
Financing The Future written by Franklin Allen and has been published by Pearson Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-23 with Business & Economics categories.
Financial innovation can drive social, economic, and environmental change, transforming ideas into new technologies, industries, and jobs. But when it is misunderstood or mismanaged, the consequences can be severe. In this practical, accessible book, two leading experts explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms and at lower cost—accomplishing tasks that would otherwise be impossible. The authors recount the history and basic principles of financial innovation, showing how new instruments have evolved, and how they have been used and misused. They thoroughly demystify complex capital structures, offering a practical toolbox for entrepreneurs, corporate executives, and policymakers. Financing the Future presents clear, thorough discussions of the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. It also presents a full chapter of lessons learned: essential insights for stabilizing the economy and avoiding pitfalls. Distinguishing genuine innovation from dangerous copycats Crafting sustainable financial innovations that add value and manage risk The best tools for the job: choosing them, customizing them, using them Selecting the right instruments and structures, and making the most of them Financial innovations for business, housing, and medical research Finding new and better ways to promote entrepreneurship and advance social goals Innovating to save the planet and help humanity The power of finance to protect natural resources and alleviate global poverty This is the first in a new series of books on financial innovation, published through a collaboration between Wharton School Publishing and the Milken Institute. Future titles will focus on specific policy areas such as housing and medical research. The Milken Institute is an independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations in the United States and around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. It puts research to work with the goal of revitalizing regions and finding new ways to generate capital for people with original ideas.