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dc.contributor.authorChong, Albertoen_US
dc.contributor.authorGradstein, Marken_US
dc.date.accessioned2010-02-23en_US
dc.date.accessioned2011-11-18T11:48:02Z-
dc.date.available2011-11-18T11:48:02Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/51474-
dc.description.abstractA growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in which policy volatility has an adverse effect on firms' entry into productive industries, thereby affecting economic growth. Empirical support for this relationship is based on a detailed dataset of thousands of firms from some 80 countries. Additional evidence is provided on the channels through which volatility affects firm growth, showing that institutional obstacles magnify the effect.en_US
dc.language.isoengen_US
dc.publisherInter-American Development Bank, Research Dep. Washington, DCen_US
dc.relation.ispartofseriesWorking paper // Inter-American Development Bank, Research Department 578en_US
dc.subject.jelE60en_US
dc.subject.jelH11en_US
dc.subject.jelO11en_US
dc.subject.ddc330en_US
dc.subject.keywordFirm Growthen_US
dc.subject.keywordPolicy Volatilityen_US
dc.subject.keywordInstitutionsen_US
dc.subject.keywordFinanceen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwMarkteintritten_US
dc.subject.stwVolatilitäten_US
dc.subject.stwPolitische Stabilitäten_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titlePolicy volatility and growthen_US
dc.typeWorking Paperen_US
dc.identifier.ppn585532699en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Research Department Working Papers, Inter-American Development Bank

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