An Alternative Estimation Framework for Firm-Level Capital Investment

This paper derives and implements Tobit estimation frameworks based on the Abel and Eberly (1998) investment model. We find evidence that a model of investment using rates of capacity utilisation is superior to a standard accelerator model. We apply this framework to a cross-section of firms in Poland, Romania and Spain in order to estimate the incidence of financing constraints.

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Year of publication:	2002-08-29
Authors:	Fennema, Julian A.
Institutions:	Royal Economic Society - RES

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Series:	Royal Economic Society Annual Conference 2002.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series Royal Economic Society Annual Conference, 2002 Number 72
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005393459