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    Полное описание

    Manaresi, Francesco. Credit supply and productivity growth / by Francesco Manaresi and Nicola Pierri. ; International Monetary Fund,. - [Washington, D.C.] : International Monetary Fund, 2019. - 2 p. - URL: https://cat.gpntb.ru/?id=FT/ShowFT&sid=44114f8d661a91021bddba6da6a7bcd9. - ISBN 1498315984. - ISBN 9781498315982. - Текст : электронный.
    Содержание:
    Data -- Theoretical framework -- Credit supply shocks and firm production -- The effect of credit supply on firm productivity growth -- The interbank market collapse as a natural experiment -- Beyond measurement: channels.
    Рубрики:
    Banks and banking -- Italy
    Business enterprises -- Finance -- Italy
    Corporations -- Finance -- Italy
    Credit -- Italy
    Banks and banking
    Business enterprises -- Finance
    Corporations -- Finance
    Credit
    Italy

    Аннотация: We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
    Доп. точки доступа:
    Pierri, N.
    International Monetary Fund,

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