The Limits of Lending: Banks and Technology Adoption across Russia

Çağatay Bircan and Ralph De Haas

No 5461, CESifo Working Paper Series from CESifo

Abstract: We exploit historical and contemporaneous variation in local credit markets across Russia to identify the impact of credit constraints on firm-level innovation. We find that access to bank credit helps firms to adopt existing products and production processes that are new to them. They introduce these technologies either with the help of suppliers and clients or by acquiring external know-how. We find no evidence that bank credit also stimulates firm innovation through in-house R&D. This suggests that banks can facilitate the diffusion of technologies within developing countries but that their role in pushing the technological frontier is limited.

Keywords: credit constraints; firm innovation; technological change (search for similar items in EconPapers)
JEL-codes: D22 F63 G21 O12 O31 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.cesifo.org/DocDL/cesifo1_wp5461.pdf (application/pdf)

Related works:
Journal Article: The Limits of Lending? Banks and Technology Adoption across Russia (2020)
Working Paper: The Limits of Lending? Banks and Technology Adoption across Russia (2019)
Working Paper: The Limits of Lending: Banks and Technology Adoption Across Russia (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_5461

Access Statistics for this paper

More papers in CESifo Working Paper Series from CESifo Contact information at EDIRC.
Bibliographic data for series maintained by Klaus Wohlrabe ().