Bridging the Gaps: Credits, Adoption, and Inequality
从发展中国家视角，研究信贷如何影响技术采用和收入不平等，发现市场流动性充足时信贷能加速技术采用并减少不平等，信贷约束则可能导致经济增长损失高达两个百分点。
Abstract We examine here the role of credits on technology adoption and inequality from the perspective of developing countries. Utilizing a model of exogenous growth, with heterogeneous labor and technical progress embodied in physical capital, we find that credits can contribute to a faster adoption and to reducing income inequality. Thus, a virtuous cycle of credits, a shorter technological gap, less inequality, and economic growth is feasible to be created when there is full liquidity in the market. When credits are constrained, the cycle loses virtuosity, where the economy can lose up to two points in growth due to credit constraints.