This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Financial Structure in Chile: Macroeconomic Developments and Microeconomic Effects Author info | Abstract | Publisher info | Download info | Related research | Statistics Francisco Gallego Y.
Norman Loayza.
Additional information is available for the following
registered author(s):
The objectives of this paper are, first, to describe the developments in Chilean financial markets at the macroeconomic level and, then, to examine their effects at the level of firms. First, the paper describes the remarkable changes in the size, activity, and efficiency of the banking sector and other capital markets (bond, stock, pension and insurance markets) during 1980s and 1990s. Then, the paper analyzes econometrically the access to financial markets, the financing (balance-sheet) structure, and the revenue growth performance in a sample of 79 Chilean firms during the period 1985-1995.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Article provided by Central Bank of Chile in its journal Economía Chilena .
Volume (Year): 3 (2000)
Issue (Month): 2 (August)
Pages: 5-30
Download reference. The following formats are available: HTML ,
plain text ,
BibTeX ,
RIS (EndNote),
ReDIF
Handle: RePEc:chb:bcchec:v:3:y:2000:i:2:p:5-30Contact details of provider: Postal: Casilla No967, Santiago Phone: (562) 670 2000 Fax: (562) 698 4847 Web page: http://www.bcentral.cl/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Claudio Sepulveda).
Keywords: Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Ross Levine, 1997.
"Financial Development and Economic Growth: Views and Agenda ,"
Journal of Economic Literature ,
American Economic Association, vol. 35(2), pages 688-726, June.
[Downloadable!] (restricted)
Other versions: Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 58(2), pages 277-97, April.
[Downloadable!] (restricted)
De Gregorio, Jose & Edwards, Sebastian & Valdes, Rodrigo O., 2000.
"Controls on capital inflows: do they work? ,"
Journal of Development Economics ,
Elsevier, vol. 63(1), pages 59-83, October.
[Downloadable!] (restricted)
Other versions: Jeffrey I. Bernstein & M. Ishaq Nadiri, 1993.
"Production, Financial Structure and Productivity Growth in U.S. Manufacturing ,"
NBER Working Papers
4309, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Demirguc-Kunt, Asli & Levine, Ross, 1999.
"Bank-based and market-based financial systems - cross-country comparisons ,"
Policy Research Working Paper Series
2143, The World Bank.
[Downloadable!]
Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 1999.
"A new database on financial development and structure ,"
Policy Research Working Paper Series
2146, The World Bank.
[Downloadable!]
Bronwyn H. Hall & Jacques Mairesse & Benoit Mulkay & Jacques Mairesse, 1999.
"Firm Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years ,"
Econometrics
9902001, EconWPA.
[Downloadable!]
Other versions:
Hall, B. & Mairesse, J. & Mulkay, B., 1998.
"Firm-Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years ,"
Economics Papers
143, Economics Group, Nuffield College, University of Oxford.
Bronwyn H. Hall & Jacques Mairesse & Benoit Mulkay, 1998.
"Firm-level investment in France an the United States: an exploration of what we have learned in twenty years ,"
IFS Working Papers
W98/10, Institute for Fiscal Studies.
Bronwyn H. Hall, Jacques Mairesse and Benoit Mulkay., 1998.
"Firm Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years ,"
Economics Working Papers
98-261, University of California at Berkeley.
[Downloadable!] Jacques Mairesse & Bronwyn H. Hall & Benoit Mulkay, 1999.
"Firm-Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years ,"
NBER Working Papers
7437, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Salvador Valdés-Prieto & Marcelo Soto, 1998.
"The Effectiveness of Capital Controls: Theory and Evidence from Chile ,"
Empirica ,
Springer, vol. 25(2), pages 133-164, January.
[Downloadable!] (restricted)
Takeo Hoshi & Anil Kashyap & David Scharfstein, 1989.
"Corporate structure, liquidity, and investment: evidence from Japanese industrial groups ,"
Finance and Economics Discussion Series
82, Board of Governors of the Federal Reserve System (U.S.).
Other versions:
Hoshi, Takeo & Kashyap, Anil & Scharfstein, David, 1991.
"Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 106(1), pages 33-60, February.
[Downloadable!] (restricted) John Y. Campbell & N. Gregory Mankiw, 1990.
"Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence ,"
NBER Working Papers
2924, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Klaus Schmidt-Hebbel & Luis Serven, 2000.
"Policy Shifts and External Shocks in Chile Under Rational Expectations ,"
Econometric Society World Congress 2000 Contributed Papers
1098, Econometric Society.
[Downloadable!]
Arellano, Manuel & Bover, Olympia, 1995.
"Another look at the instrumental variable estimation of error-components models ,"
Journal of Econometrics ,
Elsevier, vol. 68(1), pages 29-51, July.
[Downloadable!] (restricted)
Other versions: Thorsten Beck & Ross Levine & Norman Loayza, 1999.
"Financial Intermediation and Growth: Causality and Causes ,"
Working Papers Central Bank of Chile
56, Central Bank of Chile.
[Downloadable!]
Other versions:
Levine, Ross & Loayza, Norman & Beck, Thorsten, 1999.
"Financial intermediation and growth : Causality and causes ,"
Policy Research Working Paper Series
2059, The World Bank.
[Downloadable!] Levine, Ross & Loayza, Norman & Beck, Thorsten, 2000.
"Financial intermediation and growth: Causality and causes ,"
Journal of Monetary Economics ,
Elsevier, vol. 46(1), pages 31-77, August.
[Downloadable!] (restricted) Francisco Gallego & Leonardo Hernández & Klaus Schmidt-Hebbel, 1999.
"Capital Controls in Chile: Effective? Efficient? ,"
Working Papers Central Bank of Chile
59, Central Bank of Chile.
[Downloadable!]
Other versions: Demirguc-Kunt, Asli & Maksimovic, Vojislav, 1995.
"Stock market development and firm financing choices ,"
Policy Research Working Paper Series
1461, The World Bank.
[Downloadable!]
Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988.
"Estimating Vector Autoregressions with Panel Data ,"
Econometrica ,
Econometric Society, vol. 56(6), pages 1371-95, November.
[Downloadable!] (restricted)
Jeremy C. Stein, 1995.
"Internal Capital Markets and the Competition for Corporate Resources ,"
NBER Working Papers
5101, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Booth, L. & Asli Demirgu-Kunt, V.A. & Maksimovic, V., 1999.
"Capital Structure in Developing Countries ,"
Rotman School of Management - Finance
00-001, Rotman School of Management, University of Toronto.
Other versions: Steven Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1988.
"Financing Constraints and Corporate Investment ,"
NBER Working Papers
2387, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Loayza, Norman & Palacios, Luisa, 1997.
"Economic reform and progress in Latin America and the Caribbean ,"
Policy Research Working Paper Series
1829, The World Bank.
[Downloadable!]
repec:fth:harver:1435 is not listed on IDEAS
Harris, John R & Schiantarelli, Fabio & Siregar, Miranda G, 1994.
"The Effect of Financial Liberalization on the Capital Structure and Investment Decisions of Indonesian Manufacturing Establishments ,"
World Bank Economic Review ,
Oxford University Press, vol. 8(1), pages 17-47, January.
Xiaoqiang Hu & Fabio Schiantarelli, 1998.
"Investment And Capital Market Imperfections: A Switching Regression Approach Using U.S. Firm Panel Data ,"
The Review of Economics and Statistics ,
MIT Press, vol. 80(3), pages 466-479, August.
[Downloadable!] (restricted)
Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991.
"Public policies and saving in developing countries ,"
Journal of Development Economics ,
Elsevier, vol. 36(1), pages 89-115, July.
[Downloadable!] (restricted)
Other versions: Hayashi, Fumio, 1982.
"Tobin's Marginal q and Average q: A Neoclassical Interpretation ,"
Econometrica ,
Econometric Society, vol. 50(1), pages 213-24, January.
[Downloadable!] (restricted)
Other versions:
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Kristin J. Forbes, 2005.
"The Microeconomic Evidence on Capital Controls: No Free Lunch ,"
NBER Working Papers
11372, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Espanol, Paula, 2006.
"Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s ,"
Proceedings of the German Development Economics Conference, Berlin 2006
7, Verein für Socialpolitik, Research Committee Development Economics.
[Downloadable!]
Laeven, Luc, 2000.
"Does financial liberalization relax financing constraints on firms ? ,"
Policy Research Working Paper Series
2467, The World Bank.
[Downloadable!]
Chang-Tai Hsieh & Jonathan A. Parker, 2006.
"Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom ,"
NBER Working Papers
12104, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Hoyt Bleakley & Kevin Cowan, 2002.
"Corporate dollar debt and depreciations: much ado about nothing? ,"
Working Papers
02-5, Federal Reserve Bank of Boston.
[Downloadable!]
Luigi Benfratello & Fabio Schiantarelli & Alessandro Sembenelli, 2006.
"Banks and Innovation: Microeconometric Evidence on Italian Firms ,"
IZA Discussion Papers
2032, Institute for the Study of Labor (IZA).
[Downloadable!]
Other versions: Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005.
"Currency Mismatches, Balance Sheet Effects and Hedging in Chilean non-Financial Corporations ,"
Working Papers Central Bank of Chile
346, Central Bank of Chile.
[Downloadable!]
Hoyt Bleakley & Kevin Cowan, 2005.
"Maturity mismatch and financial crises: evidence from emerging market corporations ,"
Proceedings ,
Federal Reserve Bank of San Francisco.
[Downloadable!]
Other versions: Jorge M.Streb & Javier Bolzico & Pablo Druck & Alejandro Henke & José Rutman & Walter Sosa Escudero, 2002.
"Bank relationships: effect on the availability and marginal cost of credit for firms in Argentina ,"
CEMA Working Papers: Serie Documentos de Trabajo.
216, Universidad del CEMA.
[Downloadable!]
Verónica Mies & Rodrigo Fuentes, 2005.
"Mirando el Desarrollo Económico de Chile: Una Comparación Internacional ,"
Documentos de Trabajo
287, Instituto de Economía. Pontificia Universidad Católica de Chile..
[Downloadable!]
Other versions: Kristin J. Forbes, 2003.
"One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms ,"
NBER Working Papers
9777, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Forbes, Kristin J., 2003.
"One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms ,"
Working papers
4273-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
[Downloadable!] Forbes, Kristin J., 2007.
"One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms ,"
Journal of International Economics ,
Elsevier, vol. 71(2), pages 294-323, April.
[Downloadable!] (restricted) Varouj Aivazian & Dipak Mazumdar & Eric Santor, 2003.
"Financial Constraints and Investment: Assessing the Impact of a World Bank Loan Program on Small and Medium-Sized Enterprises in Sri Lanka ,"
Working Papers
03-37, Bank of Canada.
[Downloadable!]
Francisco A. Gallego & F. Leonardo Hernández, 2003.
"Microeconomic effects of capital controls: The chilean experience during the 1990s ,"
International Journal of Finance & Economics ,
John Wiley & Sons, Ltd., vol. 8(3), pages 225-253.
[Downloadable!]
Other versions: Felipe Morandé, .
"Debt Composition and Balance-Sheet Effects of Exchange Rate: A Firm level Analysis for Chile ,"
DCBSLA Series
2, Inter-American Development Bank, Research Department.
[Downloadable!]
Palladini, Eric & Goldberg , Mike, 2008.
"Chile : a strategy to promote innovative small and medium enterprises ,"
Policy Research Working Paper Series
4518, The World Bank.
[Downloadable!]
Arturo Galindo & Fabio Schiantarelli, 2002.
"Credit Constraints in Latin America: An Overview of the Micro Evidence ,"
Boston College Working Papers in Economics
537, Boston College Department of Economics.
[Downloadable!]
Verónica Mies & Felipe Morandé & Matías Tapia, 2002.
"Política Monetaria y Mecanismos de Transmisión: Nuevos Elementos para una Vieja Discusión ,"
Working Papers Central Bank of Chile
181, Central Bank of Chile.
[Downloadable!]
Access and
download statistics Did you know? All RePEc services are meant to be be free forever, as they are all run by volunteers.
This page was last updated on 2008-8-13.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .