Financial structure, informality and development

The impact of capital market imperfections and costs of creating and operating formal sector firms on total factor productivity is studied. We propose a firm dynamics model with endogenous formal and informal sectors where firms face a technology adoption opportunity. The model predicts that countri...

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Veröffentlicht in:	Journal of monetary economics 2012-04, Vol.59 (3), p.286-302
Hauptverfasser:	D'Erasmo, Pablo N., Moscoso Boedo, Hernan J.
Format:	Artikel
Sprache:	eng
Schlagworte:	Allocative efficiency Capital market Capital markets Debt policy Dynamic models Economic models Impact analysis Informal economy Informal sector Productivity Studies Technological change Technology adoption Total factor productivity
Online-Zugang:	Volltext
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