The DOI matches its Crossref record; 73 of the 73 references it cites were found in a registry or an index.
Financial Frictions and the Persistence of History: A Quantitative Exploration
Abstract
We quantitatively analyze the role of financial frictions and resource misallocation in explaining development dynamics. Our model economy with financial frictions converges to the new steady state slowly after a reform triggers efficient reallocation of resources; the transition speed is half that of the conventional neoclassical model. Furthermore, in the model economy, investment rates and total factor productivity are initially low and increase over time. We present data from the so-called miracle economies on the evolution of macro aggregates, factor reallocation, and establishment size distribution that support the aggregate and micro-level implications of our theory.
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Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Finance and Growth: Schumpeter Might Be Right
King, R. G., & Levine, R. (1993) · The Quarterly Journal of Economics · doi:10.2307/2118406 · Cited by 8,657
Why do Some Countries Produce So Much More Output Per Worker than Others?
Hall, R. E., & Jones, C. I. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399555954 · Cited by 7,879
Computation and analysis of multiple structural change models
Bai, J., & Perron, P. (2003) · Journal of Applied Econometrics · doi:10.1002/jae.659 · Cited by 5,771
Economic Reform and the Process of Global Integration
Sachs, J. D., Warner, A., Aslund, A., & Fischer, S. (1995) · Brookings Papers on Economic Activity · doi:10.2307/2534573 · Cited by 4,950 · cited 3×
“In addition, each of these economies either implemented structural reforms as defined in the Sachs and Warner (1995) panel of economic liberalizations,6 or demonstrates a statistically-significant structural break in its economic growth”
InfluentialThe Financial Accelerator in a Quantitative Business Cycle Framework
Bernanke, B., Gertler, M., & Gilchrist, S. (1998) · National Bureau of Economic Research · doi:10.3386/w6455 · Cited by 4,592
Aghion, P., & Durlauf, S. N. (2005) · RePEc: Research Papers in Economics · Cited by 4,447
Agency Costs, Net Worth, And Business Fluctuations
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Clausulas comparativas do portugues
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Misallocation and Manufacturing TFP in China and India*
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Cited by
Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity
Khan, A., & Thomas, J. K. (2013) · Journal of Political Economy · doi:10.1086/674142 · Cited by 322
Metadata
- Authors
- Buera, F. J., & Shin, Y.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2013-04
- Volume
- 121
- Issue
- 2
- Pages
- 221-272
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2156108681
- Cited by
- 451
- References
- 73
- FWCI
- 79.91
- Type
- journal article
- Language
- en
- Open access
- closed
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