Financial problems and tight credit after the 2008 financial crisis slowed down productivity growth in advanced economies. Companies with weak finances saw a bigger drop in productivity than stronger ones. This was worse in countries with stricter credit. Weak companies cut back on investing in intangible assets, which hurt productivity. These effects lasted a long time and may have caused about a third of the productivity slowdown after the crisis. The results were not because weak companies were less productive before the crisis.