Banks and innovation
Subtitle: microeconometric evidence on Italian firms
By: by Luigi Benfratello, Fabio Schiantarelli, Alessandro Sembenelli
Contributors: Schiantarelli, Fabio
Series: Discussion paper -- no. 2032; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 2032
Publisher: IZA
Published: 2006
Place of publication: Bonn, Germany
Language: eng
Format: [electronic resource] :
Subjects: Banks and banking; Technological innovations
Description: "In this paper we investigate the effect of local banking development on firms' innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990's. There is evidence that banking development affects the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that banking development reduces the cash flow sensitivity of fixed investment spending, particularly for small firms, and that it increases the probability they will engage in R&D"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Title from PDF file as viewed on 3/27/2006.

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