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
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 82 (2004)
Issue (Month): 3 (March)
Contact details of provider:
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 - - Consumption, Saving, Production, Employment, and Investment
- G3 - Financial Economics - - Corporate Finance and Governance
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.:
- Steven Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1987.
"Financing Constraints and Corporate Investment,"
NBER Working Papers
2387, National Bureau of Economic Research, Inc.
- Timothy Erickson & Toni M. Whited, 2000. "Measurement Error and the Relationship between Investment and q," Journal of Political Economy, University of Chicago Press, vol. 108(5), pages 1027-1057, October.
- Lubomír Lízal & Jan Svejnar, 2002.
"Investment, Credit Rationing, And The Soft Budget Constraint: Evidence From Czech Panel Data,"
The Review of Economics and Statistics,
MIT Press, vol. 84(2), pages 353-370, May.
- Lubomir Lizal & Jan Svejnar, 2001. "Investment, Credit Rationing and the Soft Budget Constraint: Evidence from Czech Panel Data," William Davidson Institute Working Papers Series 363, William Davidson Institute at the University of Michigan.
- J. A. Hausman, 1976.
"Specification Tests in Econometrics,"
185, Massachusetts Institute of Technology (MIT), Department of Economics.
- Joao F. Gomes, 2001. "Financing Investment," American Economic Review, American Economic Association, vol. 91(5), pages 1263-1285, December.
- Zinych, Nataliya & Odening, Martin, 2009. "How Costly are (Agricultural) Investments during Economic Transition? A Critical Literature Appraisal," 2009 Conference, August 16-22, 2009, Beijing, China 50319, International Association of Agricultural Economists.
- Roman Horváth, 2005.
"Financial Accelerator Effects in the Balance Sheets of Czech Firms,"
Working Papers IES
96, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
- Horvath, Roman, 2006. "Financial Accelerator Effects in the Balance Sheets of Czech Firms," MPRA Paper 829, University Library of Munich, Germany.
- Roman Horváth, 2006. "Financial Accelerator Effects in the Balance Sheets of Czech Firms," William Davidson Institute Working Papers Series wp847, William Davidson Institute at the University of Michigan.
- Fidrmuc, Jarko & Horváth, Roman & Horváthová, Eva, 2008.
"Corporate Interest Rates and the Financial Accelerator in the Czech Republic,"
Discussion Papers in Economics
7191, University of Munich, Department of Economics.
- Jarko Fidrmuc & Roman HorvÃƒÂ¡th & Eva HorvÃƒÂ¡thovÃƒÂ¡, 2010. "Corporate Interest Rates and the Financial Accelerator in the Czech Republic," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 46(4), pages 41-54, January.
- Alexeev, Michael & Kim, Sunghwan, 2008. "The Korean financial crisis and the soft budget constraint," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 178-193, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.