IDEAS home Printed from https://ideas.repec.org/p/ajx/wpaper/23.html
   My bibliography  Save this paper

Financial frictions and productivity: Firm-level evidence from Kazakhstan

Author

Listed:
  • Zarina Adilkhanova

    (NAC Analytica, Nazarbayev University)

Abstract

This paper studies the effect of financial frictions on firm-level total factor productivity in Kazakhstan using a large data set on medium and large enterprises from 2009 to 2017. We explain the effect of financial frictions on productivity growth and the microeconomic channels through which they may transmit to the real economy. The results demonstrate that productivity growth is vulnerable to debt growth due to the rising financial friction, which is helpful in understanding of reasons why financial crises lead to a persistent decline in economic activity.

Suggested Citation

  • Zarina Adilkhanova, 2021. "Financial frictions and productivity: Firm-level evidence from Kazakhstan," NAC Analytica Working Paper 23, NAC Analytica, Nazarbayev University, revised Mar 2022.
    • Handle: RePEc:ajx:wpaper:23
    as

    Download full text from publisher

    File URL: https://nacanalytica.com/images/macro/Papers/Financial_frictions_and_productivity_Firm-level_evidence_from_Kazakhstan.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Total Factor Productivity (TFP); Financial Frictions; Debt Growth;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ajx:wpaper:23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alisher Tolepbergen (email available below). General contact details of provider: https://edirc.repec.org/data/nacnukz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.