| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20392 |
| 来源ID | Working Paper 20392 |
| Did Bank Distress Stifle Innovation During the Great Depression? | |
| Ramana Nanda; Tom Nicholas | |
| 发表日期 | 2014-08-21 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We find a negative relationship between bank distress and the level, quality and trajectory of firm-level innovation during the Great Depression, particularly for R&D firms operating in capital intensive industries. However, we also show that because a sufficient number of R&D intensive firms were located in counties with lower levels of bank distress, or were operating in less capital intensive industries, the negative effects were mitigated in aggregate. Although Depression era bank distress was associated with the stifling of innovation, our results also help to explain why technological development was still robust following one of the largest shocks in the history of the U.S. banking system. |
| 主题 | Financial Economics ; Financial Institutions ; History ; Financial History ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w20392 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578066 |
| 推荐引用方式 GB/T 7714 | Ramana Nanda,Tom Nicholas. Did Bank Distress Stifle Innovation During the Great Depression?. 2014. |
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