Does access to external finance improve productivity? Evidence from a natural experiment

Journal of Financial Economics

Volumn 99, Issue 1, 2011, Pages 184-203

  Butler, Alexander W ^a   Cornaggia, Jess ^b  

^a RICE UNIVERSITY   (United States)

^b INDIANA UNIVERSITY   (United States)

Author keywords

Access to finance; Economic growth

Indexed keywords

EID: 78149499053     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jfineco.2010.08.009     Document Type: Article

References (20)

1. Bakke, T. E., Whited T. M., 2008. What gives? A study of firms' reactions to cash shortfalls. Unpublished working paper, University of Wisconsin, Madison, WI.
2. Becker B. Geographical segmentation of US capital markets. Journal of Financial Economics 2007, 85(1):151-178.
3. Carlson R.E., Todey P.E., Taylor S.E. Midwestern corn yield and weather in relation to extremes of the southern oscillation. Journal of Production Agriculture 1996, 9(3):347-352.
4. Chava S., Roberts M.R. How does financing impact investment? The role of debt covenants. Journal of Finance 2008, 63:2085-2121.
5. Djankov S., Hoekman B. Trade Reorientation and Productivity Growth in Bulgarian Enterprises. Policy Research Working Paper Series 1707 1999, The World Bank, Washington, DC.
6. Feder G. The relation between farm size and farm productivity. Journal of Development Economics 1985, 18:297-313.
7. Fonstad M., Pugatch W., Vogt B. Kansas is flatter than a pancake. Annals of Improbable Research 2003, 9(3):16-18.
8. Gatti R., Love I. Does access to credit improve productivity? Evidence from Bulgarian firms. Policy research working paper series 3921 2006, The World Bank, Washington, DC.
9. Hahn, R.W., 2008. Ethanol: law, economics, and politics. Working Paper Series 08-02. Reg-Markets Center.
10. Hicks J.R. A Theory of Economic History 1969, Calderon Press, Oxford, England.
11. Jayaratne J., Strahan P.E. The finance-growth nexus: evidence from bank branch deregulation. Quarterly Journal of Economics 1996, 111(3):639-670.
12. Koo W.W., Duncan M.R., Taylor R.D. Analysis of Farm Financing and Risk Management for US Farmers, Agricultural economics report 399 1998, North Dakota State University, Fargo, ND.
13. Maurel, M., 2001. Investment, efficiency, and credit rationing: evidence from Hungarian panel data. Unpublished working paper 403. University of Michigan, William Davidson Institute, Ann Arbor, MI.
14. Petersen M.A., Rajan R.G. Does distance still matter? The information revolution in small business lending. Journal of Finance 2002, 57(6):2533-2570.
15. Robinson, J., 1952, The generalisation of the general theory. In: The Rate of Interest and Other Essays. MacMillan, London, England, pp. 67-163.
16. Schumpeter, J.A., 1912. The theory of economic development: an inquiry into profits, capital, credit, interest and the business cycle. Dunker & Humboldt, Leipzig, Germany.
17. Stock J.H., Yogo M. Identification and Inference for Econometric Models: Essays in Honor of Thomas Rothenberg 2005, 80-108. Cambridge University Press, Cambridge, England. D.W.K. Andrews, J.H. Stock (Eds.).
18. Thompson L.M. Climatic change, weather variability, and corn production. Agronomy Journal 1986, 78(4):649-653.
19. Whited T.M. Debt, liquidity constraints, and corporate investment: evidence from panel data. Journal of Finance 1992, 47:1425-1460.
20. Whited T.M. External finance constraints and the intertemporal pattern of intermittent investment. Journal of Financial Economics 2006, 81:467-502.