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Impact of Credit Market Development and Stability on Productivity: New Evidence from the Industry Level

Year: 2020

Type: article

Abstract: Using data on manufacturing industries (aggregated at the 2-digit level) from 118 advanced and developing countries, covering the period 1980-2014, I reassess the impact of financial development and provide new evidence on the effect of the volatility of credit on the growth of labor productivity.I show that labor productivity is boosted by the amount of credit and hindered by the variability of credit, but only in Pavitt's (1984) category of supplier-dominated industries.The amount and variability of credit seem to have no bearing on the growth of labor productivity in groups of science-based, specialized suppliers and scale-intensive sectors.

Source: RePEc: Research Papers in Economics

Author: Michalô °€ Brzozowski

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: green

OpenAlex ID: W3037852173

FWCI:

Cites: 40

Cited by:

Related to: 10