Volatility and firm growth
Volatility and firm growth
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DOI：
10.1007/s10887-009-9037-y
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发表时间：
2009-03-01
影响因子：
2.3
通讯作者：
Gradstein, Mark
中科院分区：
文献类型：
--
作者：
Chong, Alberto;Gradstein, Mark
越来越多的宏观经济证据表明，波动对经济增长有害。然而，实现这一目标的渠道却不那么清楚。此外，基于分类数据的实质性证据很少。在本文中，我们使用详细的跨国公司层面的数据集，为这种关系提供了实证支持。我们还提供了额外的证据表明，制度障碍放大了感知波动对企业增长的不利影响。
A growing body of macroeconomic evidence suggests that volatility is detrimental for economic growth. The channel through which this materializes, however, is less clear. Moreover, substantive evidence based on disaggregate data is scarce. In this paper, we provide empirical support for this relationship using a detailed cross-country firm-level dataset. We also provide additional evidence that institutional obstacles magnify the adverse effect of perceived volatility on firm growth.