Artikel
Firm productivity, innovation, and financial development
This study utilizes firm-level data from the World Bank's Enterprise Survey Indicator Database, conducted between 2009 and 2018 for 32 countries in Africa, to examine the causal relationship between firm productivity, innovation, and financial development. We show evidence that firm innovation significantly and positively affects firm productivity. We also show the mediating role of well-developed financial markets on productivity. In a well-developed financial market, the impact of firm innovation is significant through the facilitation and financing of innovation activities; and innovative firms to boost productivity and lower production costs. These findings are significant for countries in Africa (and other less-developed countries) who spend less on R&D but can adopt or imitate existing innovative ideas from technology-rich countries for accelerated economic growth and increased productivity.
- Language
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Englisch
- Bibliographic citation
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Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 9 ; Year: 2021 ; Issue: 1 ; Pages: 1-29
- Classification
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Wirtschaft
- Subject
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financial development
Firm innovation
new product
new technology
productivity
- Event
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Geistige Schöpfung
- (who)
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Xu, Sheng
Asiedu, Michael
Kyeremeh, Gabriel
- Event
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Veröffentlichung
- (who)
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Taylor & Francis
- (where)
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Abingdon
- (when)
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2021
- DOI
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doi:10.1080/23322039.2021.1976359
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Xu, Sheng
- Asiedu, Michael
- Kyeremeh, Gabriel
- Taylor & Francis
Time of origin
- 2021
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