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This paper uses a panel of UK manufacturing firms to examine whether the effect of cash flow on inventory investment reflects the presence of financially constrained firms. Financially constrained firms are identified using a number of criteria, including the criterion suggested by Bond and...
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The process of industrialization was accompanied by the switch from household production to firm production. The … international trade. This paper studies the partition of production between households and firms in an analytically tractable …-purpose technologies, and the opening of international trade increase the percentage of goods produced by firms. However, with the …
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