Financial Health and Firm Productivity: Firm-level Evidence from Viet Nam

Shandre M. Thangavelu and Aekapol Chongvilaivan
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Shandre M. Thangavelu: Asian Development Bank Institute

No 434, ADBI Working Papers from Asian Development Bank Institute

Abstract: This paper empirically investigates whether financial health shores up firm productivity. It presents productivity as another driving factor in translating financial development into real economic progress. The authors’ empirical framework employs Levinsohn and Petrin’s (2003) semi-parametric estimation of total factor productivity (TFP) using firm-level panel data during 2002–2008, and incorporates financial health variables into conventional determinants of firm productivity. The findings suggest that liquidity and access to external credit boosts firm productivity, with the latter particularly imperative for exporting and/or importing firms.

Keywords: financial health; total factor productivity; financial development (search for similar items in EconPapers)
JEL-codes: O16 O25 O53 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2013-09-23
New Economics Papers: this item is included in nep-eff, nep-sea and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Working Paper: Financial Health and Firm Productivity: Firm-level Evidence from Viet Nam (2013)
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