| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6694 |
| DP6694 Bond Supply and Excess Bond Returns | |
| Dimitri Vayanos; Robin Greenwood | |
| 发表日期 | 2008-02-07 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Although it is widely accepted that financial development is associated with higher growth, the evidence on the channels through which credit affects growth at the microeconomic level is scant. Using data from a cross section of Bulgarian firms, we estimate the impact of access to credit, as proxied by indicators of whether firms have access to a credit line or overdraft facility on productivity. To overcome potential omitted variable bias of OLS estimates, we use information on firms? past growth to instrument for access to credit. We find credit to be positively and strongly associated with TFP. These results are robust to a wide range of robustness checks. |
| 主题 | Public Economics |
| 关键词 | Access to credit Productivity Transition |
| URL | https://cepr.org/publications/dp6694 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535531 |
| 推荐引用方式 GB/T 7714 | Dimitri Vayanos,Robin Greenwood. DP6694 Bond Supply and Excess Bond Returns. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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