How Long to Read Shocks, Financial Dependence, and Efficiency

How Long Does it Take to Read Shocks, Financial Dependence, and Efficiency?

It takes the average reader and 11 minutes to read Shocks, Financial Dependence, and Efficiency by Marcello M. Estevão

Assuming a reading speed of 250 words per minute. Learn more

Description

The paper investigates how changes in industries'' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using industries'' dependence on external funding as an identification mechanism, we show that increases in the cost of funds have a statistically significant and economically meaningful negative impact on TFP growth. This effect is, however, non-monotonic across sectors with different degrees of dependence on external finance. Our findings cannot be explained by either increasing returns to scale or factor hoarding, as results are not sensitive to controlling for industry size and our calculations account for changes in factor utilization. The paper presents a theoretical model that produces the observed non-monotonic effect of financial shocks on TFP growth and suggests that financial shocks distort the allocation of factors across firms even within an industry, thus reducing TFP growth.

How long is Shocks, Financial Dependence, and Efficiency?

Shocks, Financial Dependence, and Efficiency by Marcello M. Estevão is 11 pages long, and a total of 2,761 words.

This makes it 4% the length of the average book. It also has 3% more words than the average book.

How Long Does it Take to Read Shocks, Financial Dependence, and Efficiency Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 15 minutes to read Shocks, Financial Dependence, and Efficiency aloud.

What Reading Level is Shocks, Financial Dependence, and Efficiency?

Shocks, Financial Dependence, and Efficiency is suitable for students ages 6 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Shocks, Financial Dependence, and Efficiency?

Shocks, Financial Dependence, and Efficiency by Marcello M. Estevão is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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