fbpx Financial Development and Technology Diffusion | Harvard Kennedy School

Additional Authors:

  • Ramana Nanda


Financial Development and Technology Diffusion. Ramana Nanda, September 2014, Paper. "We examine the extent to which financial market development impacts the diffusion of 16 major technologies, looking across 55 countries, from 1870 to 2000. We find that greater depth in financial markets leads to faster technology diffusion for more capital-intensive technologies, but only in periods closer to the invention of new technologies. In fact, we find no differential effect of financial depth on the diffusion of capital-intensive technologies in the late stages of diffusion or in late adopters..." Link