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Debt versus equity finance in developing countries: An empirical analysis of the agent-principal model of internat. capital transfers

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  • Corsepius, Uwe
  • Nunnenkamp, Peter
  • Schweickert, Rainer

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  • Corsepius, Uwe & Nunnenkamp, Peter & Schweickert, Rainer, 1989. "Debt versus equity finance in developing countries: An empirical analysis of the agent-principal model of internat. capital transfers," Open Access Publications from Kiel Institute for the World Economy 328, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkie:328
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    References listed on IDEAS

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    1. Jeffrey Sachs & Daniel Cohen, 1982. "LDC Borrowing with Default Risk," NBER Working Papers 0925, National Bureau of Economic Research, Inc.
    2. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-349, June.
    3. Schweickert, Rainer, 1989. "Government regulations, external financing, and economic performance: the case of Korea," Kiel Working Papers 352, Kiel Institute for the World Economy (IfW Kiel).
    4. Gershon Feder & Uri Regev, 1975. "International Loans, Direct Foreign Investment, and Optimal Capital Accumulation," The Economic Record, The Economic Society of Australia, vol. 51(3), pages 320-325, September.
    5. Griffin, Keith B & Enos, J L, 1970. "Foreign Assistance: Objectives and Consequences," Economic Development and Cultural Change, University of Chicago Press, vol. 18(3), pages 313-327, April.
    6. Jonathan Eaton & Mark Gersovitz, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(2), pages 289-309.
    7. Hanson, James A, 1974. "Optimal International Borrowing and Lending," American Economic Review, American Economic Association, vol. 64(4), pages 616-630, September.
    8. Jagdish N. Bhagwati, 1978. "Anatomy of Exchange Control Regimes," NBER Chapters, in: Foreign Trade Regimes and Economic Development: Anatomy and Consequences of Exchange Control Regimes, pages 7-52, National Bureau of Economic Research, Inc.
    9. Lächler, Ulrich, 1985. "Debt versus equity in development finance," Kiel Working Papers 248, Kiel Institute for the World Economy (IfW Kiel).
    10. Stüven, Volker, 1988. "Incentive effects of self-enforcing contracts in international lending," Kiel Working Papers 341, Kiel Institute for the World Economy (IfW Kiel).
    11. Jagdish N. Bhagwati, 1978. "Appendix to "Foreign Trade Regimes and Economic Development: Anatomy and Consequences of Exchange Control Regimes"," NBER Chapters, in: Foreign Trade Regimes and Economic Development: Anatomy and Consequences of Exchange Control Regimes, pages 219-221, National Bureau of Economic Research, Inc.
    12. Feder, Gershon & Regev, Uri, 1975. "International Loans, Direct Foreign Investment, and Optimal Capital Accumulation," The Economic Record, The Economic Society of Australia, vol. 51(135), pages 320-325, September.
    13. Papanek, Gustav F, 1972. "The Effect of Aid and other Resource Transfers on Savings and Growth in Less Developed Countries," Economic Journal, Royal Economic Society, vol. 82(327), pages 934-950, September.
    14. Mosley, Paul, 1980. "Aid, Savings and Growth Revisited," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 42(2), pages 79-95, May.
    15. Park, Yung Chul, 1986. "Foreign debt, balance of payments, and growth prospects: the case of the Republic of Korea, 1965-1988," World Development, Elsevier, vol. 14(8), pages 1019-1058, August.
    16. Ulrich Lächler & Peter Nunnenkamp, 1987. "The effects of debt versus equity inflows on savings and growth in developing economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 123(4), pages 631-650, December.
    17. Diaz-Alejandro, Carlos, 1985. "Good-bye financial repression, hello financial crash," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 1-24.
    18. Corsepius, Uwe, 1988. "Government regulations, external financing and economic performance: The case of Mexico," Kiel Working Papers 345, Kiel Institute for the World Economy (IfW Kiel).
    19. Corsepius, Uwe, 1988. "Government regulations, external financing, and economic performance: The case of Chile," Kiel Working Papers 336, Kiel Institute for the World Economy (IfW Kiel).
    20. Zaidi, Iqbal Mehdi, 1985. "Saving, investment, fiscal deficits, and the external indebtedness of developing countries," World Development, Elsevier, vol. 13(5), pages 573-588, May.
    21. Jagdish N. Bhagwati, 1978. "Foreign Trade Regimes and Economic Development: Anatomy and Consequences of Exchange Control Regimes," NBER Books, National Bureau of Economic Research, Inc, number bhag78-1, July.
    22. Over, A Mead, Jr, 1975. "An Example of the Simultaneous-Equation Problem: A Note on "Foreign Assistance: Objectives and Consequences."," Economic Development and Cultural Change, University of Chicago Press, vol. 23(4), pages 751-756, July.
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    Cited by:

    1. Xia, Ying & Chen, Muyang, 2023. "The Janus face of stateness: China's development-oriented equity investments in Africa," World Development, Elsevier, vol. 162(C).
    2. Agarwal, Jamuna Prasad & Gubitz, Andrea & Nunnenkamp, Peter, 1991. "Foreign direct investment in developing countries: the case of Germany," Open Access Publications from Kiel Institute for the World Economy 423, Kiel Institute for the World Economy (IfW Kiel).
    3. Nunnenkamp, Peter, 2001. "Liberalization and regulation of international capital flows: where the opposites meet," Kiel Working Papers 1029, Kiel Institute for the World Economy (IfW Kiel).
    4. Nunnenkamp, Peter & Funke, Norbert & Schweickert, Rainer, 1992. "International capital flows: recent developments, major determinants, and the position of Brazil in worldwide competition for foreign capital," Kiel Working Papers 509, Kiel Institute for the World Economy (IfW Kiel).

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