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Why Credit Matters for Productivity

In: The Age of Productivity

Author

Listed:
  • Carmen Pagés

    (Inter-American Development Bank)

Abstract

An economy without credit is like a car without fuel: it simply cannot move forward. There is abundant evidence that credit is an important driver of economic growth.1 At the most basic level, credit is the mechanism through which savers in the economy connect to borrowers, enabling them to carry out investment projects that are the basis for the process of capital accumulation. But credit does not only foster economic growth through investment. Credit also promotes productivity growth in a number of ways. Indeed, the “productivity channel” through which credit impacts economic growth is an amply studied mechanism.2

Suggested Citation

  • Carmen Pagés, 2010. "Why Credit Matters for Productivity," Palgrave Macmillan Books, in: Carmen Pagés (ed.), The Age of Productivity, chapter 6, pages 123-151, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-10761-8_6
    DOI: 10.1057/9780230107618_6
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    Cited by:

    1. Arráiz,Irani & Bruhn,Miriam & Stucchi,Rodolfo Mario, 2015. "Psychometrics as a tool to improve screening and access to credit," Policy Research Working Paper Series 7506, The World Bank.
    2. Arráiz,Irani & Bruhn,Miriam & Stucchi,Rodolfo Mario, 2015. "Psychometrics as a tool to improve screening and access to credit," Policy Research Working Paper Series 7506, The World Bank.

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