This paper investigates the sources of capital misallocation across a group of 11 developing and developed countries. The main findings are (i) technological frictions, namely, adjustment costs and uncertainty, account for only a modest share of observed misallocation, leaving ample scope for other factors; (ii) heterogeneity in firm-level technologies potentially explains between one-quarter and one-half; but (iii) dispersion in markups is much smaller;...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2019/10/01
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Рабочий документ в рамках исследования вопросов политики
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WPS9031
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1
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1
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2019/10/01
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Disclosed
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Capital Allocation in Developing Countries
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adjustment cost
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