题目：Capital Market Integration and Innovation: Firm-level Evidence from 43 Countries
报告人：侯芳芳助理教授
主持人：张国清教授
时  间：2019年11月12日（星期二），15:00-17:30
地   点：嘉庚二208室

论文摘要：Using a novel firm-level panel data set covering 43 countries over two decades, we find that capital account liberalization is significantly associated with higher patenting activity. The impact is identified through a triple difference estimation strategy. We show that the effects of capital account liberalization are more pronounced among firms in R&D intensive sectors. We further find that the impact is stronger for firms that are located in economies that have a relatively better legal environment. Our results provide the first global evidence on the real effect of capital market integration.