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Innovation, finance, and economic growth : an agent-based approach
Fagiolo, Giorgio; Giachini, Daniele; Roventini, Andrea - 2017
This paper extends the endogenous-growth agent-based model in Fagiolo& Dosi (2003) to study the finance-growth nexus. We explore industries where firms produce a homogeneous good using existing technologies, perform R&D activities to introduce new techniques, and imitate the most productive...
Persistent link: https://www.econbiz.de/10011752444
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Innovation and Technology Diffusion in Competitive Supply Chains
Aydin, Ayhan - 2017
Innovations in consumer products frequently rely on technological advances across multiple tiers in a supply chain …
Persistent link: https://www.econbiz.de/10012948571
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On the Fintech Revolution : Interpreting the Forces of Innovation, Disruption and Transformation in Financial Services
Gomber, Peter - 2018
technology innovations, and process disruptions. The industry as a whole, and many new fintech start-ups are looking for new …) operations management in financial services, and the changes that are occurring there; (2) technology innovations that have begun … technologies, and cross-border payment services; (3) multiple fintech innovations that have impacted lending and deposit services …
Persistent link: https://www.econbiz.de/10012917586
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Is the Growth Effect of Financial Development Conditional on Technological Innovation?
Bhatti, Arshad - 2015
This paper argues that excessive financial development in combination with high levels of technological innovation or R&D activities may lead to the former being ineffective in generating economic growth. This hypothesis is examined through a dynamic panel analysis using two measures of...
Persistent link: https://www.econbiz.de/10013034506
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Financial deepening and innovation efficiency : the role of political institutions
Ho, Chun-Yu; Huang, Shaoqing; Shi, Hao; Wu, Jun - 2017
This study investigates the effects of financial deepening on innovation efficiency for various democratic levels of political institutions using panel data from 69 countries spanning 1970-2010. Banking market deepening is associated with increased innovation efficiency only when political...
Persistent link: https://www.econbiz.de/10011621252
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Financial Development and Innovation : Cross-Country Evidence
Hsu, Po-Hsuan - 2014
We examine how financial market development affects technological innovation. Using a large data set that includes 32 developed and emerging countries and a fixed effects identification strategy, we identify economic mechanisms through which the development of equity markets and credit markets...
Persistent link: https://www.econbiz.de/10013068738
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Financial Development and Innovation-Led Growth : Is Too Much Finance Better?
Asimakopoulos, Stylianos - 2018
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...
Persistent link: https://www.econbiz.de/10012907577
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The political economy of financial systems
Haber, Stephen H.; Perotti, Enrico C. - 2008
This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...
Persistent link: https://www.econbiz.de/10011374399
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Asset encumbrance, bank funding and financial fragility
Ahnert, Toni; Anand, Kartik; Gai, Prasanna; Chapman, James - 2016
How does asset encumbrance affect the fragility of intermediaries subject to rollover risk? We offer a model in which a bank issues covered bonds backed by a pool of assets that is bankruptcy remote and replenished following losses. Encumbering assets allows a bank to raise cheap secured debt...
Persistent link: https://www.econbiz.de/10011451099
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Money, banking and financial markets
Andolfatto, David; Berentsen, Aleksander; Martin, … - 2017
The fact that money, banking, and financial markets interact in important ways seems self-evident. The theoretical nature of this interaction, however, has not been fully explored. To this end, we integrate the Diamond (1997) model of banking and financial markets with the Lagos and Wright...
Persistent link: https://www.econbiz.de/10011790432