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Money and Productive Efficiency: Evidence from a High-Inflation Country

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Author Info
Erdem Başçi
Syed F. Mahmud
Eray M. Yucel

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Abstract

This paper examines how money balances held by manufacturing firms affect their efficiency in generating sales revenue in a high-inflation economy. The analysis employs data from Turkish firms to estimate a stochastic frontier model, finding a strong positive association between the firms' money holdings and their efficiency. However, the role of money balances seems to diminish as firms hold higher raw material inventories.

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File URL: http://mesharpe.metapress.com/link.asp?target=contribution&id=9556772077384155
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Publisher Info
Article provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.

Volume (Year): 43 (2007)
Issue (Month): 1 (February)
Pages: 64-73
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:mes:emfitr:v:43:y:2007:i:1:p:64-73

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords: high inflation; inventories; manufacturing; money demand by firms; stochastic frontier estimation; Turkey;

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This page was last updated on 2009-11-22.

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