Investment And Export-Led Industrialization: Financial Constraints And Export Promotion Of East Asian Firms
AbstractThis paper aims to empirically examine the determinants that influence the investment decisions of firms in East Asia, a region that propelled its growth through a predominantly export-led industrialization strategy. Empirical results suggest that a firm¡¯s cash flow, representing internal funding capability, have significantly positive relationship on firm investment decisions in all the sample countries in the region. In addition, the study found that export expansion led to increasing internal funding capability, which had a positive influence on the firm¡¯s investment decision.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 30 (2005)
Issue (Month): 1 (June)
Corporate Finance; East Asia; Investment;
Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
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