A Methodological Note on Measuring the Functional Efficiency of Capital Markets

We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions.

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Year of publication:	2008-06-09
Authors:	Eklund, Johan E ; Desai, Sameeksha
Institutions:	Centre of Excellence for Science and Innovation Studies, Kungliga Tekniska Högskolan (KTH)
Subject:	Allocation of capital \| accelerator principle \| functional efficiency

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Extent:	application/pdf
Series:	Working Paper Series in Economics and Institutions of Innovation.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series KTH/CESIS Working Paper Series in Economics and Institutions of Innovation Number 132 11 pages
Classification:	C00 - Mathematical and Quantitative Methods. General ; G32 - Financing Policy; Capital and Ownership Structure ; P00 - Economic Systems. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005644980