Financial Liberalization Credit Constraints And Collateral
Download Financial Liberalization Credit Constraints And Collateral full books in PDF, epub, and Kindle. Read online free Financial Liberalization Credit Constraints And Collateral ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Financial Liberalization, Credit Constraints, and Collateral
Author | : Mr.R. Gelos |
Publisher | : International Monetary Fund |
Total Pages | : 42 |
Release | : 1999-03-01 |
Genre | : Business & Economics |
ISBN | : 1451844247 |
Download Financial Liberalization, Credit Constraints, and Collateral Book in PDF, Epub and Kindle
This paper examines the impact of financial liberalization on fixed investment in Mexico, using establishment-level data from the manufacturing sector. It analyzes changes in cash-flow sensitivities and uses an innovative approach to explore the role of real estate as collateral and deal with a potential censoring problem. The results suggest that financial constraints were eased for small firms but not for large ones. However, banks’ reliance on collateral in their lending operations increased the importance of real estate. The results provide microeconomic evidence consistent with the role attributed to “financial accelerator” mechanisms during lending booms and during recessions that stem from financial crises.
Financial Liberalization, Credit Constraints, and Collateral Related Books
Pages: 42
Pages: 43
Pages: 49
Pages: 75
Pages: 176