Measuring the Functional Efficiency of Capital Markets

We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions.

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Year of publication:	2008-06-18
Authors:	Eklund, Johan E. ; Desai, Sameeksha
Institutions:	Wirtschaftswissenschaftliche Fakultät, Friedrich-Schiller-Universität Jena
Subject:	Allocation of capital \| accelerator principle \| functional efficiency

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Extent:	application/pdf
Series:	Jena Economic Research Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2008-051
Classification:	C00 - Mathematical and Quantitative Methods. General ; G32 - Financing Policy; Capital and Ownership Structure ; P00 - Economic Systems. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005090557