Reyes, Alvaro; Lensink, Robert; Kuyvenhoven, Arie; … - International Association of Agricultural Economists - IAAE - 2012
investigate investment under imperfect capital markets. Specifically we determine the impact of formal credit constraints on fixed … investment. By controlling for endogeneity problems, we find credit constraints to have a significant negative impact on fixed … investment. In addition, a time trend is significant, which we understand as evidence of the impact of the global financial …