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Growth and Risk : A View from International Trade (English)

This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. It uses a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of quality growth and the corresponding cross-sectional variance of quality growth in a country are positively correlated. Second, both the mean and variance of quality...
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Krishna,Pravin; Levchenko,Andrei A.; Maloney,William F..

Growth and Risk : A View from International Trade (English). Policy Research working paper|no. WPS 9296 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/699231592936066374

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