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Financial constraints and firm size : micro-evidence and aggregate implications
Ferreira, Miguel H.; Haber, Timo; Rörig, Christian - 2023
Using a unique dataset covering the universe of Portuguese firms and their credit situation we show that financially constrained firms are found across the entire firm size distribution, even in the top 1%. Incorporating a richer, empirically supported, productivity process into a standard...
Persistent link: https://www.econbiz.de/10014293341
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Implications of foreign direct investment, capital formation and its structure for global value chains
Adarov, Amat; Stehrer, Robert - 2019
In the age of globalisation, international trade and foreign direct investment (FDI) have become integral elements of …
Persistent link: https://www.econbiz.de/10012153901
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Capital goods trade, relative prices, and economic development
Mutreja, Piyusha; Ravikumar, B.; Sposi, Michael - 2017
International trade in capital goods has quantitatively important effects on economic development through capital formation and TFP. Capital goods trade enables poor countries to access more efficient technologies, leading to lower relative prices of capital goods and higher capital-output...
Persistent link: https://www.econbiz.de/10011690972
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Financing costs and development
Cavalcanti, Tiago; Kaboski, Joseph Paul; Martins, Bruno … - 2023
Most aggregate theories of financial frictions model credit available at a cost of financing equal to the savings rate but rationed. However, using a comprehensive firm-level credit registry, we document both high levels and high dispersion in ex post credit spreads to Brazilian firms. We...
Persistent link: https://www.econbiz.de/10014550802
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Firm expectations and investment : evidence from the China-Japan island dispute
Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2017
persistent decline in investment. Moreover, the territorial dispute has led to persistent pessimism in these firms' expectations … about future sales, which can explain 60% of the overall decline in investment. …
Persistent link: https://www.econbiz.de/10011756135
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Deconstructing China's and India's growth : the role of financial policies
Aziz, Jahangir (contributor) - 2008
and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms and financial …
Persistent link: https://www.econbiz.de/10003758478
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The rise and fall of Spanish unemployment : a chain reaction theory perspective
Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
The evolution of Spanish unemployment has been quite idiosyncratic. The full-employment levels of the early seventies were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price shocks. While unemployment was extremely persistent in most...
Persistent link: https://www.econbiz.de/10003765970
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Effects of government investment shocks on private investment and income in India
Mallick, Jagannath - 2016
This paper evaluates the effect of shocks in government investment on private investment and national income, focusing … heterogeneous effect of public investment as regards to infrastructure. Hence, I divide government investment into infrastructure vs … evaluate the dynamic change in private investment and income. The study finds evidence of the crowding-out effect of government …
Persistent link: https://www.econbiz.de/10011422039
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Taxation and economic growth in Colombia
Steiner, Roberto - 2014
This Working Paper assesses the impact on investment of a reduction in corporate taxes and the impact on employment … (1967), we estimate an investment function, which depends on the user cost of capital, one of whose determinants is the … short and long-term effects on investment in machinery and equipment. While the user cost of capital declines 0.9 percent …
Persistent link: https://www.econbiz.de/10011285598
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Firms' investment and savings in Latin America : stylized facts from the enterprise survey
Kawamura, Enrique; Ronconi, Lucas - 2015
This paper describes the share of investment in fixed capital and working capital financed by retained earnings using a …, particularly by smaller firms located in countries with less developed financial markets. Investment in fixed assets represents …
Persistent link: https://www.econbiz.de/10011473027