Access to finance, product innovation and middle-income traps (English)

This paper studies interactions between access to finance, product innovation, and labor supply in a two-period overlapping generations model with an endogenous skill distribution and credit market frictions. In the model lack of access to finance (induced by high monitoring costs) has an adverse effect on innovation activity not only directly but also indirectly, because too few individuals may choose to invest in skills. If monitoring costs fall...

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Author

Agenor,Pierre-Richard;

Canuto,Otaviano;
Document Date
2014/02/01
Document Type
Policy Research Working Paper
Report Number
WPS6767
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2014/02/01
Disclosure Status
Disclosed
Doc Name
Access to finance, product innovation and middle-income traps
Keywords
monitoring cost

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Citation

Agenor,Pierre-Richard; Canuto,Otaviano.

Access to finance, product innovation and middle-income traps (English). Policy Research working paper ; no. WPS 6767 Washington, DC: World Bank Group. http://documents.worldbank.org/curated/en/391121468339569684

Access to finance, product innovation and middle-income traps (English)

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