Andere Kunden interessierten sich auch für
![Variations in Economic Growth Across Nations and Regions of the World]( "Variations in Economic Growth Across Nations and Regions of the World")
Variations in Economic Growth Across Nations and Regions of the World53,99 €![Impact of R&D Expenditures on the Relationship of TFP and GDP]( "Impact of R&D Expenditures on the Relationship of TFP and GDP")
Impact of R&D Expenditures on the Relationship of TFP and GDP51,99 €![R&D Expenditure and Economic Growth in the European Union]( "R&D Expenditure and Economic Growth in the European Union")
R&D Expenditure and Economic Growth in the European Union53,99 €![Applications of Dynamic Factor Models in Pricing of Financial Markets]( "Applications of Dynamic Factor Models in Pricing of Financial Markets")
Applications of Dynamic Factor Models in Pricing of Financial Markets51,99 €![Lean project execution in R&D]( "Lean project execution in R&D")
Lean project execution in R&D24,95 €![Competitiveness of national economies]( "Competitiveness of national economies")
Competitiveness of national economies45,99 €![Impact of Education and Technology on Economic Growth]( "Impact of Education and Technology on Economic Growth")
Impact of Education and Technology on Economic Growth32,99 €
We analyze the role of uncertainty on financial markets, growth, and development, considering that uncertainty is caused by two shocks, a liquidity shock and an idiosyncratic productivity shock. The liquidity shock creates a demand for credits, the idiosyncratic shock (productivity of the risky investment) determines financial development. When agents foresee their idiosyncratic shocks, they can share risk and aggregate uncertainty can enhance growth. However, imperfect foresight impedes risk sharing and constraints credits. In this case, uncertainty reduces growth in the long term. The government can promote inter-temporal saving and international capital flows to compensate for distortions. Performing a numerical analysis for developing countries, and utilizing the U.S. as a benchmark, we find a positive relationship between credits and the return of the risky investment (R&D). We also find that the return of this investment can be more important for growth than its ratio to GDP. The foregoing is crucial for developing countries that need to growth faster for development.