Cyclical fiscal policy, credit constraints, and industry growth

What are the effects of cyclical fiscal policy on industry growth? We show that industries with a relatively heavier reliance on external finance or lower asset tangibility tend to grow faster (in terms of both value added and of labor productivity growth) in countries that implement fiscal policies...

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Veröffentlicht in:	Journal of monetary economics 2014-03, Vol.62, p.41-58
Hauptverfasser:	Aghion, Philippe, Hémous, David, Kharroubi, Enisse
Format:	Artikel
Sprache:	eng
Schlagworte:	Countercyclicality Economic planning Economic policy Financial dependence Fiscal policy Growth Growth rate Labor economics Manycountries Monetary economics Panel data Productivity Research methodology Studies
Online-Zugang:	Volltext
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