Usted está aquí

Back to top

RyD investment and financial frictions

Oscar Mauricio
Valencia-Arana
Domingo, 1 Junio 2014

RyD intensity for small firms is high and persistent over time. At the same time, small firms are often financially constrained. This paper proposes a theoretical model that explains the coexistence of these two stylized facts. It is shown that self-finan