Habibullah, Muzafar Shah; Smith, Peter; Azman-Saini, W. … - In: Applied Economics 38 (2006) 21, pp. 2535-2543
An error-correction model is used to estimate the fraction of consumers who are liquidity-constrained in 10 Asian developing countries. Our estimates of the fraction of consumers who are liquidity-constrained range between 0.25 and 0.98. We further investigate whether financial liberalization...