Liquidity constraints and financial liberalization: the case for Asian developing countries

The Euler equation model is used to determine the fraction of consumers who are liquidity constrained in ten Asian developing countries. Our estimates of the fraction of liquidity constrained consumers range between 0.5 and 0.9. We further investigate whether financial liberalization has resulted in the reduction of liquidity constraints in these countries. However the results find support for this only in the case of South Korea.

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Year of publication:	1999
Authors:	Habibullah, Muzafar Shah ; Smith, Peter
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 6.1999, 4, p. 259-262
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009207904