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A Review of Capital Budgeting Practices
Jacobs, Davina F. - 2008
A key challenge in government budgeting is to define an appropriate balance between current and capital expenditures. Budgeting for government capital investment also remains not well-integrated into the formal budget preparation process in many countries. This paper aims to provide an overview...
Persistent link: https://www.econbiz.de/10012677618
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Does Inflation Slow Long-Run Growth in India?
Mohaddes, Kamiar; Raissi, Mehdi - International Monetary Fund (IMF) - 2014
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This …
Persistent link: https://www.econbiz.de/10011142122
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Fiscal consolidation and the cost of credit : evidence from syndicated loans
Ağca, Şenay; Igan, Deniz - 2013
We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic...
Persistent link: https://www.econbiz.de/10009706780
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The Missing Link Between Financial Constraints and Productivity
Moreno Badia, Marialuz - 2009
The global financial crisis has reopened the debate on the potential spillover effects from the financial sector to the real economy. This paper adds to that debate by providing new evidence on the link between finance and firm-level productivity, focusing on the case of Estonia. We contribute...
Persistent link: https://www.econbiz.de/10012677759
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The Cost of Aggressive Sovereign Debt Policies
Trebesch, Christoph - 2009
This paper proposes a new empirical measure of cooperative versus conflictual crisis resolution following sovereign default and debt distress. The index of government coerciveness is presented as a proxy for excusable versus inexcusable default behaviour and used to evaluate the costs of default...
Persistent link: https://www.econbiz.de/10012677723
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Stock Market and the Financing of Corporate Growth in Africa : The Case of Ghana
Yartey, Charles Amo - 2006
Intro -- Contents -- I. INTRODUCTION -- II. THEORIES OF CORPORATE FINANCE -- III. CORPORATE FINANCING PATTERNS AROUND THE WORLD -- IV. THE STOCK MARKET IN GHANA -- V. METHODOLOGY -- VI. EMPIRICAL RESULTS -- VII. THE RESULTS IN COMPARATIVE PERSPECTIVE -- VIII. SUMMARY AND CONCLUSIONS -- APPENDIX...
Persistent link: https://www.econbiz.de/10012691158
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Does the business environment affect corporate investment in India?
Tokuoka, Kiichi - 2012
Since the global financial crisis, corporate investment has been weak in India. Sluggish corporate investment would not only moderate growth from the demand side but also constrain growth from the supply side over time. Against this background, this paper analyzes the reasons for the slowdown...
Persistent link: https://www.econbiz.de/10009572430
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Factor endowment, structural coherence, and economic growth
Che, Natasha Xingyuan - 2012
This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...
Persistent link: https://www.econbiz.de/10009618511
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The volatility trap : precautionary saving, investment, and aggregate risk
Cherif, Reda; Hasanov, Fuad - 2012
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store-or-sow"" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a ""volatility trap."" Namely, big savers...
Persistent link: https://www.econbiz.de/10009615558
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Is China over-investing and does it matter?
Lee, Il Houng; Syed, Murtaza; Xueyan, Liu - 2012
Now close to 50 percent of GDP, this paper assesses the appropriateness of China's current investment levels. It finds that China's capital-to-output ratio is within the range of other emerging markets, but its economic growth rates stand out, partly due to a surge in investment over the last...
Persistent link: https://www.econbiz.de/10009678976