UNSPECIFIED (2000) Investment and financial restraints: Theory and evidence. In: European Meeting of the Econometric-Society, SEP, 1993, UPPSALA, SWEDEN.

Full text not available from this repository.

Abstract

This paper examines investment decisions in an economy with two financial markets: an official market, which is subject to rationing due to an interest rate ceiling, and an unrestricted market, with a higher interest rate. in this context, the long-run equilibrium aggregate capital stock is unambiguously higher than in the absence of the interest rate ceiling, even though its relationship with the ceiling is non-monotonic. Empirical results using aggregate panel data from 52 developing countries for the period 1974-1988 provide support for the model, particularly in economies that have some access to international capital markets. Copyright (C) 2000 John Wiley & Sons, Ltd.

Item Type:	Conference Item (UNSPECIFIED)
Subjects:	H Social Sciences > HG Finance
Journal or Publication Title:	INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS
Publisher:	JOHN WILEY & SONS LTD
ISSN:	1076-9307
Date:	October 2000
Volume:	5
Number:	4
Number of Pages:	12
Page Range:	pp. 285-296
Publication Status:	Published
Title of Event:	European Meeting of the Econometric-Society
Location of Event:	UPPSALA, SWEDEN
Date(s) of Event:	SEP, 1993
URI:	http://wrap.warwick.ac.uk/id/eprint/12749

Data sourced from Thomson Reuters' Web of Knowledge

Request changes to a record

Actions (login required)

View Item