When Do Financial Frictions Matter for Misallocation?
收藏NBER2026-03-01 更新2026-03-14 收录
下载链接：
https://www.nber.org/papers/w34930
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资源简介：
This paper reassesses the role of financial frictions in capital misallocation through a model disciplined by both firm-level borrowing costs and the average revenue product of capital (ARPK). Using Chinese manufacturing data, we document substantial dispersion in ARPK, alongside a strong positive
提供机构：
美国国家经济研究局
创建时间：
2026-03-01
