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Investment And Liquidity Constraints
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Book Synopsis Liquidity Constraints and Investment in Transition Economies by : Nina Budina
Download or read book Liquidity Constraints and Investment in Transition Economies written by Nina Budina and published by World Bank Publications. This book was released on 2000 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness"--Cover.
Book Synopsis Liquidity Constraints and Investment in Transition Economies by : Eelke de Jong
Download or read book Liquidity Constraints and Investment in Transition Economies written by Eelke de Jong and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use Bulgarian firm-level data to investigate the impact of liquidity constraints on investment performance. Internal funds are an important determinant of investment in most industrialized countries. We test whether internal funds are important for firm investment during the current transition process in Bulgaria. We use a simple accelerator model of investment to test whether liquidity constraints are relevant in the case of Bulgaria. Our estimations are based on data for the period 1993-95, prior to the Bulgarian financial crisis in 1996-97. It turns out that Bulgarian firms are liquidity constrained, and that firms' size and financial structure help to distinguish between firms that are more and less liquidity constrained. In our view, liquidity constraints can be given a different interpretation in the case of transition economies as compared to Western economies. A more in depth analysis of the data reveals that liquidity constraints, and consequently the access to external funds for Bulgarian firm investment, are to be seen against the background of soft-budget constraints and the failure of the financial system to enforce an efficient allocation of funds. In our view, the lack of liquidity constraints may actually be seen as a sign of financial weakness in the case of Bulgaria.
Book Synopsis Investment and Liquidity Constraints by : Andreas Behr
Download or read book Investment and Liquidity Constraints written by Andreas Behr and published by . This book was released on 2003-12-12 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investment and Liquidity Constraints by : Andreas Behr
Download or read book Investment and Liquidity Constraints written by Andreas Behr and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a unique database of German firms, the Deutsche Bundesbank's Corporate Balance Sheet Statistics, Andreas Behr explores the link between financial factors and a firm's investment decision within the framework of the Q-theory of investment.
Book Synopsis Financial Constraints on Investment of Thai Firms by : Virathus Theerawongseri
Download or read book Financial Constraints on Investment of Thai Firms written by Virathus Theerawongseri and published by . This book was released on 2003 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investment, Liquidity Constraints and Bank Relationships by : Julie Ann Elston
Download or read book Investment, Liquidity Constraints and Bank Relationships written by Julie Ann Elston and published by . This book was released on 1996 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financing Constraints and Fixed Investment by : Philip Vermeulen
Download or read book Financing Constraints and Fixed Investment written by Philip Vermeulen and published by . This book was released on 1999 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Structure, Liquidity, and Investment by : Takeo Hoshi
Download or read book Corporate Structure, Liquidity, and Investment written by Takeo Hoshi and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Has Inventory Investment Been Liquidity-constrained? by : Woon Gyu Choi
Download or read book Has Inventory Investment Been Liquidity-constrained? written by Woon Gyu Choi and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liquidity Constraints on Investment by : Gabriel Alejandro Mendoza-Pichard
Download or read book Liquidity Constraints on Investment written by Gabriel Alejandro Mendoza-Pichard and published by . This book was released on 2001 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Firm Investment and Balance-Sheet Problems in Japan by : Mr.Toshitaka Sekine
Download or read book Firm Investment and Balance-Sheet Problems in Japan written by Mr.Toshitaka Sekine and published by International Monetary Fund. This book was released on 1999-08-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether balance-sheet conditions of firms and their main banks matter for firm investment behavior using dynamic corporate panel data in Japan for the period 1985-95. It finds that smaller non-bond issuing firms were facing liquidity constraints; these firms’ balance-sheet conditions (the debt asset ratios) affected their investment from the midst of the bubble era by influencing main banks’ lending to them; and the deterioration of their main banks’ balance-sheet conditions constrained these firms’ investment from about 1993. These findings highlight the potential macroeconomic impact and importance of the credit channel of monetary policy, and support the case of a credit crunch facing small Japanese firms during this period.
Book Synopsis Credit Constraints and Investment in Latin America by : Arturo J. Galindo
Download or read book Credit Constraints and Investment in Latin America written by Arturo J. Galindo and published by IDB. This book was released on 2003 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cash Flow Constraints and Firms' Investment Behaviour by : D. R. Chapman
Download or read book Cash Flow Constraints and Firms' Investment Behaviour written by D. R. Chapman and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Constraints and Investment in France and Spain by : Ignacio Hernando
Download or read book Financial Constraints and Investment in France and Spain written by Ignacio Hernando and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Se realiza un análisis de las obligaciones financieras en España y Francia durante el periodo 1991-1999.
Book Synopsis The Financial Times Guide to Saving and Investing for Retirement by : Yoram Lustig
Download or read book The Financial Times Guide to Saving and Investing for Retirement written by Yoram Lustig and published by Pearson UK. This book was released on 2016-05-23 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liquidity Choice and Misallocation of Credit by : Mr.Ehsan Ebrahimy
Download or read book Liquidity Choice and Misallocation of Credit written by Mr.Ehsan Ebrahimy and published by International Monetary Fund. This book was released on 2019-12-20 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies a novel type of misallocation of credit between investments of varying liquidity. One type of investment is more liquid, i.e., its return is more pledgeable, and the other is more productive. Low liquidities of both investment types imply that the allocation of credit is constrained inefficient and that there is overinvestment in the liquid type. Constrained inefficient equilibria feature non-positive, i.e., one less than or equal the economy’s growth rate, and yet too high interest rate, too much investment and too little consumption. Financial development can reduce long-term welfare and output in a constrained inefficient equilibrium if it raises the liquidity of the liquid type. I show a maximum liquid asset ratio or a simple debt tax can achieve constrained efficiency. Introducing government bonds can make Pareto improvement whenever it does not raise the interest rate.
Book Synopsis Understanding Financial Crises by : Franklin Allen
Download or read book Understanding Financial Crises written by Franklin Allen and published by OUP Oxford. This book was released on 2009-04-02 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: What causes a financial crisis? Can financial crises be anticipated or even avoided? What can be done to lessen their impact? Should governments and international institutions intervene? Or should financial crises be left to run their course? In the aftermath of the Asian financial crisis, many blamed international institutions, corruption, governments, and flawed macro and microeconomic policies not only for causing the crisis but also unnecessarily lengthening and deepening it. Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises. Beginning with a review of the history of financial crises and providing readers with the basic economic tools needed to understand the literature, the authors construct a series of increasingly sophisticated models. Throughout, the authors guide the reader through the existing theoretical and empirical literature while also building on their own theoretical approach. The text presents the modern theory of intermediation, introduces asset markets and the causes of asset price volatility, and discusses the interaction of banks and markets. The book also deals with more specialized topics, including optimal financial regulation, bubbles, and financial contagion.
