We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity …

Investor protection is associated with greater investment-sensitivity to q and lower investment-sensitivity to cash …-sensitivities are associated with ex-post investment efficiency; investment predicts growth and profits more strongly in countries with … investor protection laws promote accurate share prices, reduce financial constraints, and encourage efficient investment …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generate realistic correlations between investment, q, and cash flow …

of agents as their coordinates in the economic space. Transactions like buy-sell, investment, credits, etc., between …