Borradores de Economia
Número:
828
Publicado:
Clasificación JEL:
O41, D86
Palabras clave:
Moral Hazard, Endogenous Borrowing Constraints, Technological Change
Lo más reciente
Jhorland Ayala-García, Jaime Bonet-Morón, Eduardo A. Haddad, Inácio F. Araújo
Remesas, crecimiento y convergencia económica regional: evidencia para los departamentos de Colombia
Clark Granger, Jhorland Ayala-García, Fabio Montenegro Aparicio
Hans-Erik Edsand, Andrés Aleán-Romero, Jhorland Ayala-García, Tania Jiménez Castilla, Sandra C. Valencia
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