Investment, Credit Rationing, and the Soft Budget Constraint: What Would a Well-Functioning Credit Market Look Like?

IV estimates of the link between profits and investment in the Czech Republic find a complex relationship. While firms may occasionally be credit rationed or face soft budget constraints, investments generally flow to industries with the greatest profit potential or need for recapitalization

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Year of publication:	2003-06-16
Authors:	Hanousek, Jan ; Filer, Randall K.
Institutions:	EconWPA
Subject:	Investment \| Transition Economies \| Soft budget constraint

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Extent:	application/pdf
Series:	Microeconomics.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; prepared on IBM PC ; to print on HP/PostScript; pages: 10 ; figures: included 10 pages
Classification:	D2 - Production and Organizations ; E2 - Consumption, Saving, Production, Employment, and Investment ; G3 - Corporate Finance and Governance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005135117