good investment opportunities, but is negatively related to growth for firms whose growth opportunities are either not …

When firms are able to pledge their assets as collateral, investment and borrowing become endogenous: pledgeable assets … support more borrowings that in turn allow for further investment in pledgeable assets. We show that this credit multiplier … has an important impact on investment when firms face credit constraints: investment-cash flow sensitivities are …

may mute their impact on productive investment. In an experiment in Malawi, we cross-cut cash transfers with an "input … fair," designed to reduce transport costs to access agricultural inputs. Cash alone increases investment by 27%, while the … joint provision of cash and the input fair increases investment by about 40%; thus, the incremental effect of the input fair …

agricultural yields and low food prices. Critical to this success has been sustained public sector investment combined with a … decentralized and competitive research system in the US. Recent intellectual property reforms motivated increased private investment …. For new technologies, the case of agriculture demonstrates that government has an important role in antitrust, the …

Over the past decade, a number of researchers have extended conventional models of business fixed investment to … incorporate a role for financial constraints' in determining investment. This paper reviews developments and challenges in this … challenges. First, I describe analytical underpinnings of models of capital-market imperfections in the investment process, and …

1978-89. These datasets are used to estimate a range of empirical investment equations, and to investigate the role played … the suggestion that financial constraints on investment may be relatively severe in the more market-oriented UK financial …

companies. I test the joint hypothesis that 1) a decrease in cash/collateral decreases investment, holding fixed the … profitability of investment, and 2) the finance costs of different parts of the same corporation are interdependent. The results … support this joint hypothesis: oil companies significantly reduced their non-oil investment compared to the median industry …

research that uses cross-sectional differences in firm behavior to test for financing constraints on investment. This reply … of internal finance. Second, the KZ regression results (lower sensitivity of investment to cash flow for firms classified …

We examine the neoclassical investment model using a panel of U.S. manufacturing firms. The standard model with no … for firms with low (pre-sample) payouts (firms we expect to face financing constraints). Hem, investment is sensitive to … both firm cash flow and macroeconomic credit conditions, holding constant investment opportunities. Sample splits based on …