Interactions between financial constraints and economic growth

Detalhes bibliográficos
Autor(a) principal: Jerónimo, J.
Data de Publicação: 2023
Outros Autores: Azevedo, Assis, Neves, P. C., Thompson, Maria
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://hdl.handle.net/1822/85741
Resumo: The financial economy and the real economy are interconnected through various, complex, and evolving transmission mechanisms, whose literary coverage is far from comprehensive. In this context, we wish to contribute to the literature on the interactions between financial constraints and economic growth. We introduce financial dynamics in the R&D-based growth literature, by bringing Bernanke, Gertler and Gilchrist’s (1999) informational asymmetries into Romer’s (1990) growth model. With the developed framework, our main goal is to examine if and how such asymmetries impact economic growth. We find that the overall impact of this form of financial constraints on long-term growth is negative.
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spelling Interactions between financial constraints and economic growthFinancial constraintsEconomic growthCiências Naturais::MatemáticasCiências Sociais::Economia e GestãoThe financial economy and the real economy are interconnected through various, complex, and evolving transmission mechanisms, whose literary coverage is far from comprehensive. In this context, we wish to contribute to the literature on the interactions between financial constraints and economic growth. We introduce financial dynamics in the R&D-based growth literature, by bringing Bernanke, Gertler and Gilchrist’s (1999) informational asymmetries into Romer’s (1990) growth model. With the developed framework, our main goal is to examine if and how such asymmetries impact economic growth. We find that the overall impact of this form of financial constraints on long-term growth is negative.This research has been financed by Portuguese public funds through FCT - Fundação para a Ciência e a Tecnologia, I.P., in the framework of the projects UIDB/04105/2020, UIDB/03182/2020, UIDB/00013/2020 and UIDP/00013/2020.ElsevierUniversidade do MinhoJerónimo, J.Azevedo, AssisNeves, P. C.Thompson, Maria20232023-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/1822/85741eng1062-94081879-086010.1016/j.najef.2023.101943101943https://www.sciencedirect.com/science/article/pii/S1062940823000669?via%3Dihubinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-29T01:20:10Zoai:repositorium.sdum.uminho.pt:1822/85741Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:10:00.777306Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Interactions between financial constraints and economic growth
title Interactions between financial constraints and economic growth
spellingShingle Interactions between financial constraints and economic growth
Jerónimo, J.
Financial constraints
Economic growth
Ciências Naturais::Matemáticas
Ciências Sociais::Economia e Gestão
title_short Interactions between financial constraints and economic growth
title_full Interactions between financial constraints and economic growth
title_fullStr Interactions between financial constraints and economic growth
title_full_unstemmed Interactions between financial constraints and economic growth
title_sort Interactions between financial constraints and economic growth
author Jerónimo, J.
author_facet Jerónimo, J.
Azevedo, Assis
Neves, P. C.
Thompson, Maria
author_role author
author2 Azevedo, Assis
Neves, P. C.
Thompson, Maria
author2_role author
author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Jerónimo, J.
Azevedo, Assis
Neves, P. C.
Thompson, Maria
dc.subject.por.fl_str_mv Financial constraints
Economic growth
Ciências Naturais::Matemáticas
Ciências Sociais::Economia e Gestão
topic Financial constraints
Economic growth
Ciências Naturais::Matemáticas
Ciências Sociais::Economia e Gestão
description The financial economy and the real economy are interconnected through various, complex, and evolving transmission mechanisms, whose literary coverage is far from comprehensive. In this context, we wish to contribute to the literature on the interactions between financial constraints and economic growth. We introduce financial dynamics in the R&D-based growth literature, by bringing Bernanke, Gertler and Gilchrist’s (1999) informational asymmetries into Romer’s (1990) growth model. With the developed framework, our main goal is to examine if and how such asymmetries impact economic growth. We find that the overall impact of this form of financial constraints on long-term growth is negative.
publishDate 2023
dc.date.none.fl_str_mv 2023
2023-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://hdl.handle.net/1822/85741
url https://hdl.handle.net/1822/85741
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1062-9408
1879-0860
10.1016/j.najef.2023.101943
101943
https://www.sciencedirect.com/science/article/pii/S1062940823000669?via%3Dihub
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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