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Corporate reserves--Do they hurt economic growth?: Some empirical evidence from OECD countries


  • Hahn, Franz R.


In this note we provide empirical evidence supporting the view that enhanced corporate risk and liquidity management promoted by financial development provides better insurance against liquidity shocks caused by capital market imperfections and thus tends to support economic growth.

Suggested Citation

  • Hahn, Franz R., 2010. "Corporate reserves--Do they hurt economic growth?: Some empirical evidence from OECD countries," Economics Letters, Elsevier, vol. 109(2), pages 91-93, November.
  • Handle: RePEc:eee:ecolet:v:109:y:2010:i:2:p:91-93

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    References listed on IDEAS

    1. Bassanini, Andrea & Scarpetta, Stefano, 2002. "Does human capital matter for growth in OECD countries? A pooled mean-group approach," Economics Letters, Elsevier, vol. 74(3), pages 399-405, February.
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    3. Apergis, Nicholas, 2004. "Inflation, output growth, volatility and causality: evidence from panel data and the G7 countries," Economics Letters, Elsevier, vol. 83(2), pages 185-191, May.
    4. Jean Tirole, 2006. "The Theory of Corporate Finance," Post-Print hal-00173191, HAL.
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    Cited by:

    1. Filipe Silva & Carlos Carreira, 2011. "Financial Constraints and Exports: An Analysis of Portuguese Firms During the European Monetary Integration," Notas Económicas, Faculty of Economics, University of Coimbra, issue 34, pages 35-56, December.
    2. Filipe Silva & Carlos Carreira, 2011. "Financial Constraints: Lessons from the Portuguese Monetary Integration," Book Chapters, Institute of Economic Sciences.


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