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Financial Restraints and Private Investment: Evidence from a Nonstationary Panel*
Demetriades, Panicos; Costantini, Mauro; James, Gregory; … - Department of Economics, Leicester University - 2010
We employ recently developed panel data methods to estimate a model of private investment under financial restraints … depending on whether we take into account cross-country effects. When we allow for cross-sectional dependence, investment … enjoyed higher levels of private investment than those that would have been obtained under liberalized conditions. …
Persistent link: https://www.econbiz.de/10008565753
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Financial Restraints in the South Korean Miracle
Demetriades, Panicos O; Luintel, Kul B - Department of Economics, Leicester University - 2000
We provide novel empirical evidence on the effects of financial restraints on South Korean financial development. The evidence is linked to a simple model of the Korean banking system that encapsulates its cartelised nature, which predicts a positive association between financial development and...
Persistent link: https://www.econbiz.de/10005385075
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Government Connections and Financial Constraints: Evidence from a Large Representative Sample of Chinese Firms
Cull, Robert; Li, Wei; Sun, Bo; Xu, Lixin Colin - Federal Reserve Board (Board of Governors of the … - 2015
flows to fund investment), and that the sensitivity of investment to internal cash flows is higher for firms that report …
Persistent link: https://www.econbiz.de/10011269077
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Financial restraints and private investment : evidence from a nonstationary panel
Costantini, Mauro; Demetriades, Panicos O.; James, Gregory - 2010
We employ recently developed panel data methods to estimate a model of private investment under financial restraints … depending on whether we take into account cross-country effects. When we allow for cross-sectional dependence, investment … enjoyed higher levels of private investment than those that would have been obtained under liberalized conditions …
Persistent link: https://www.econbiz.de/10003927970
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Government Connections and Financial Constraints : Evidence from a Large Representative Sample of Chinese Firms
Cull, Robert - 2016
flows to fund investment), and that the sensitivity of investment to internal cash flows is higher for firms that report …
Persistent link: https://www.econbiz.de/10013003300
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Remittances and Investment
Bjuggren, Per-Olof; Dzansi, James; Shukur, Ghazi - Centre of Excellence for Science and Innovation … - 2010
This paper studies the impact of remittances on investment. Workers’ remittances to developing countries have grown to … investment in the home countries of the migrants. The importance of financial and institutional framework in the receiving … institutional framework and well developed credit market increase investment. However, it is also found that the marginal importance …
Persistent link: https://www.econbiz.de/10008626057
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Chinese firms’ political connection, ownership, and financing constraints
Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. - In: Economics Letters 115 (2012) 2, pp. 164-167
We empirically examine some listed Chinese firms’ political connection, ownership, and financing constraints. Politically-connected firms display no financing constraints whereas firms without connection experience significant constraints. Non-connected family-controlled firms bear greater...
Persistent link: https://www.econbiz.de/10010576422
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Growing like China
Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009
This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...
Persistent link: https://www.econbiz.de/10005123794
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Information, Financing, and Investment
Bird, Andrew - 2020
.4% and, despite compensating with internal sources of funds, cut investment by 10.8% after standards. These findings …
Persistent link: https://www.econbiz.de/10012853146
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The Real Value of China's Stock Market
Carpenter, Jennifer N. - 2018
efficiency of its financial system in allocating capital to investment will be important to sustain this growth. This paper shows … that of corporate investment efficiency. China's stock market appears to be aggregating diffuse information and generating … cost of equity capital, constraining the investment of China's smaller, more profitable enterprises. Further reforms that …
Persistent link: https://www.econbiz.de/10012937683