Financial Frictions Investment And Institutions
Download Financial Frictions Investment And Institutions full books in PDF, epub, and Kindle. Read online free Financial Frictions Investment And Institutions ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Financial Frictions, Investment, and Institutions
Author | : Mr.Stijn Claessens |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2010-10-01 |
Genre | : Business & Economics |
ISBN | : 1455209317 |
Download Financial Frictions, Investment, and Institutions Book in PDF, Epub and Kindle
Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii) required return at the country level. We empirically investigate the effects of institutions on these financial frictions using a panel of 75,000 firm-years across 48 countries for the period 1990 - 2007. We find that improved corporate governance (e.g., less informational problems) and enhanced contractual enforcement reduce financial frictions, while stronger creditor rights (e.g., lower collateral constraints) are less important.
Financial Frictions, Investment, and Institutions Related Books
Pages: 47
Pages: 48
Pages: 511
Pages: 30
Pages: 479