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Cited by 1,127

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

Finance and Misallocation: Evidence from Plant-Level Data

Midrigan, Virgiliu, Xu, Daniel Yi·2014·American Economic Review
DOI 10.1257/aer.104.2.422
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Abstract

We use producer-level data to evaluate the role of financial frictions in determining total factor productivity (TFP). We study a model of establishment dynamics in which financial frictions reduce TFP through two channels. First, finance frictions distort entry and technology adoption decisions. Second, finance frictions generate dispersion in the returns to capital across existing producers and thus productivity losses from misallocation. Parameterizations of our model consistent with the data imply fairly small losses from misallocation, but potentially sizable losses from inefficiently low levels of entry and technology adoption. (JEL E32, E44, F41, G32, L60, O33, O47)

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Metadata

Authors
Midrigan, V., & Xu, D. Y.
Venue
American Economic Review
Publisher
American Economic Association
Published
2014-02-01
Volume
104
Issue
2
Pages
422-458
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.104.2.422
OpenAlex
W1981936924
Cited by
1,127
References
1
FWCI
199.99
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Finance and Misallocation: Evidence from Plant-Level Data. https://app.cochat.ai/papers/10.1257/aer.104.2.422
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Midrigan, V., & Xu, D. Y. (2014). Finance and Misallocation: Evidence from Plant-Level Data. American Economic Review. https://doi.org/10.1257/aer.104.2.422

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