Borradores de Economia
Número:
828
Publicado:
Clasificación JEL:
O41, D86
Palabras clave:
Moral Hazard, Endogenous Borrowing Constraints, Technological Change
Lo más reciente
Sandra Isabel Salamanca-Gil, Enrique Montes-Uribe, Juan Sebastián Silva-Rodríguez
Jhorland Ayala-García, Yesica Tatiana Lara-Silva, Alejandro Alberto Vargas-Villamil, Lina Romero-Chaparro
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