Investment, credit rationing, and the soft budget constraint: what would a well-functioning credit market look like?
AbstractIV estimates of the link between profits and investment in the Czech Republic find a complex relationship. While firms may occasionally be credit rationed or face soft budget constraints, investments generally flow to industries with the greatest profit potential or need for recapitalization
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 82 (2004)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Jan Hanousek & Randall K. Filer, 2003. "Investment, Credit Rationing, and the Soft Budget Constraint: What Would a Well-Functioning Credit Market Look Like?," Microeconomics 0306003, EconWPA.
- D2 - Microeconomics - - Production and Organizations
- E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
- G3 - Financial Economics - - Corporate Finance and Governance
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