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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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Shocks, financial dependence, and efficiency : evidence from U.S. and Canadian industries
Estevão, Marcelo M.; Severo, Tiago - 2011
Persistent link: https://www.econbiz.de/10009423208
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Shocks, Financial Dependence, and Efficiency : Evidence From U.S. and Canadian Industries
Estevão, Marcello M. - 2011
different degrees of dependence on external finance. Our findings cannot be explained by either increasing returns to scale or …
Persistent link: https://www.econbiz.de/10014398575
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Finance, growth, and inequality
Levine, Ross - 2021
Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the … fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic …
Persistent link: https://www.econbiz.de/10012612328
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Financial Markets and Public Finance in the Transformation Process
Tanzi, Vito - 1992
The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of “social ecological balance” necessary for the working of a modern market economy; (b) the need to...
Persistent link: https://www.econbiz.de/10014398498
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Real Implications of Financial Linkages Between Canada and the United States
Klyuev, Vladimir - 2008
This paper documents the extent of financial linkages between Canada and the United States and explores the impact of changes in U.S. financial conditions on financial conditions and real economic activity in Canada. It shows that close to a quarter of financing by Canadian corporations is...
Persistent link: https://www.econbiz.de/10014401284
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Multiple Avenues of Intermediation, Corporate Finance and Financial Stability
Davis, E. P. - 2001
Using data from the US, UK, Japan and Canada, this paper provides evidence on the benefits to an economy from ""multiple avenues of intermediation"". The overall conclusion is that the existence of active securities markets alongside banks is indeed beneficial to the stability of corporate...
Persistent link: https://www.econbiz.de/10014403532
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Firm Investment, Corporate Finance, and Taxation
Palomba, Geremia - 2002
This paper examines the intertemporal effect of corporate income taxation on the investment behavior of a firm that faces imperfect capital markets. It shows that when capital markets are imperfect, the optimizing firm goes through different phases of growth. In this dynamic setting, the effect...
Persistent link: https://www.econbiz.de/10014399717
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Show Me the Money : Access to Finance for Small Borrowers in Canada
Klyuev, Vladimir - 2008
This paper examines access to business finance by Canadian small and medium-sized enterprises (SMEs) and to housing … finance by Canadian households (particularly non-prime borrowers) against the background of a fairly concentrated and … SMEs. The paper also finds the market for housing finance to be highly advanced and sophisticated. However, non …
Persistent link: https://www.econbiz.de/10014401481
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Determinants of corporate investment in China : evidence from cross-country firm level data
Geng, Nan; N'Diaye, Papa M'B. P. - 2012
Persistent link: https://www.econbiz.de/10009572374