Guasch, J. Luis; Kogan, Joseph - Economics Research, World Bank Group - 2003
The authors find that raw materials inventories in the manufacturing sector in the 1970s and 1980s were two to three … worsening of infrastructure increases raw materials inventories by 11 percent to 37 percent, and a one standard deviation … worsening of markets increases raw materials inventories by 18 percent to 37 percent. These findings are robust across a number …