Title of article
Financialstructure,informalityanddevelopment
Author/Authors
Pablo N.D’Erasmo، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2012
Pages
17
From page
286
To page
302
Abstract
The impactofcapitalmarketimperfectionsandcostsofcreatingandoperatingformal
sectorfirmsontotalfactorproductivityisstudied.Weproposeafirmdynamicsmodel
with endogenousformalandinformalsectorswherefirmsfaceatechnologyadoption
opportunity.Themodelpredictsthatcountrieswithalowdegreeofdebtenforcement
and highcostsofformalityarecharacterizedbylowallocativeefficiencyandlarge
outputsharesproducedbylowproductivity,informalsectorfirms.Forfrictions
parametrizedusingthe Doing Business database,themodelgeneratesadropintotal
factorproductivityofupto25%relativetotheUS
Journal title
Journal of Monetary Economics
Serial Year
2012
Journal title
Journal of Monetary Economics
Record number
846522
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