Technology and Finance

Author/Editor:

Anna Ilyina ; Roberto M. Samaniego

Publication Date:

July 1, 2008

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The benefits from financial development are known to vary across industries. However, no systematic effort has been made to determine the technological characteristics that are shared by industries that tend to grow relatively faster in more financially developed countries. This paper explores a range of technological characteristics that might underpin differences across industries in the need or the ability to raise external funding. The main finding is that industries that grow faster in more financially developed countries tend to display greater R&D intensity or investment lumpiness, indicating that well-functioning financial markets direct resources towards industries that grow by performing R&D.

Series:

Working Paper No. 08/182

Subject:

English

Publication Date:

July 1, 2008

ISBN/ISSN:

9781451870404/1018-5941

Stock No:

WPIEA2008182

Format:

Paper

Pages:

42

Please address any questions about this title to publications@imf.org