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dc.contributor.authorWellalage, Nirosha Hewaen_NZ
dc.contributor.authorLocke, Stuarten_NZ
dc.date.accessioned2023-01-25T22:20:09Z
dc.date.available2023-01-25T22:20:09Z
dc.date.issued2020-11-01en_NZ
dc.identifier.issn1059-0560en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/15459
dc.description.abstractWe investigate the formal credit effect on firm level innovations of small and medium enterprises in developing economies. Using the instrumental regression method, we control for potential endogeneity in innovation and credit relationships. Results indicate that formal credit availability boosts all four types of innovations. However, this impact is more significant for soft innovations compared to hard innovations. The results also point to the importance of informal finance as a source of external finance for firms where capital markets suffer from imperfections. Our study encourages the development of policy based on financing for various types of innovation, which is especially suited for developing economies.
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherELSEVIERen_NZ
dc.rightsThis is an author’s accepted version of an article published in the journal: International Review of Economics & Finance. © 2020 Elsevier B.V.
dc.subjectSocial Sciencesen_NZ
dc.subjectBusiness, Financeen_NZ
dc.subjectEconomicsen_NZ
dc.subjectBusiness & Economicsen_NZ
dc.subjectInnovationen_NZ
dc.subjectSMEsen_NZ
dc.subjectFormal crediten_NZ
dc.subjectEndogeneityen_NZ
dc.subjectInstrumental probit regressionen_NZ
dc.subjectDeveloping economiesen_NZ
dc.subjectResearch and developmenten_NZ
dc.subjectFinancial constraintsen_NZ
dc.subjectEntrepreneurial financeen_NZ
dc.subjectVenture capitalistsen_NZ
dc.subjectInformal financeen_NZ
dc.subjectEconomic growthen_NZ
dc.subjectInvestmenten_NZ
dc.subjectFirmen_NZ
dc.subjectPerformanceen_NZ
dc.subjectCorruptionen_NZ
dc.titleFormal credit and innovation: Is there a uniform relationship across types of innovation?en_NZ
dc.typeJournal Article
dc.identifier.doi10.1016/j.iref.2020.07.004en_NZ
dc.relation.isPartOfINTERNATIONAL REVIEW OF ECONOMICS & FINANCEen_NZ
pubs.begin-page1
pubs.elements-id256159
pubs.end-page15
pubs.publication-statusPublisheden_NZ
pubs.volume70en_NZ
dc.identifier.eissn1873-8036en_NZ


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