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The Effects of Hyper-Inflation on Accounting Ratios. Financing Corporate Growth in Industrial Economies


  • Whittington, G
  • Saporta, V
  • Singh, A


Hyper-inflation can have a severe distortionary effect of the pattern of corporate finance which is apparent from comparny accounts. A simple algorithm, based upon the method of inflation accounting applied in Brazil, is developed and applied to the accounts of Turkish listed companies for the period 1982-90.

Suggested Citation

  • Whittington, G & Saporta, V & Singh, A, 1997. "The Effects of Hyper-Inflation on Accounting Ratios. Financing Corporate Growth in Industrial Economies," Papers 3, World Bank - International Finance Corporation.
  • Handle: RePEc:fth:wobafi:3

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    References listed on IDEAS

    1. Corbett, Jennifer & Jenkinson, Tim, 1994. "The Financing of Industry, 1970-89: An International Comparison," CEPR Discussion Papers 948, C.E.P.R. Discussion Papers.
    2. John Mullin, 1993. "Emerging equity markets in the global economy," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 54-83.
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    Cited by:

    1. Charles Komla Adjasi & Charles Amo Yartey, 2007. "Stock Market Development in Sub-Saharan Africa; Critical Issues and Challenges," IMF Working Papers 07/209, International Monetary Fund.
    2. Jack Glen & Kevin Lee & Ajit Singh, 2003. "Corporate profitability and the dynamics of competition in emerging markets: a time series analysis," Economic Journal, Royal Economic Society, vol. 113(491), pages 465-484, November.
    3. Ajit Singh, 2003. "Corporate governance, corporate finance and stock markets in emerging countries," Working Papers wp258, Centre for Business Research, University of Cambridge.
    4. Jack Glen & Ajit Singh, 2003. "Capital Structure, Rates of Return and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-00," Working Papers wp265, Centre for Business Research, University of Cambridge.
    5. Singh, Ajit & Singh, Alaka & Weisse, Bruce, 2002. "Corporate Governance, Competetion, The new International Financial Architecture and Large Corporations in Emerging Markets," MPRA Paper 24305, University Library of Munich, Germany.
    6. Ajit Singh, 2003. "Competition, corporate governance and selection in emerging markets," Economic Journal, Royal Economic Society, vol. 113(491), pages 443-464, November.
    7. Jack Glen & Ajit Singh, 2005. "Corporate Governance, Competition, and Finance: Re-thinking Lessons from the Asian Crisis," Eastern Economic Journal, Eastern Economic Association, vol. 31(2), pages 219-243, Spring.
    8. Singh, Ajit, 2003. "Corporate governance, the big business groups and the G-7 reform agenda: A critical analysis," MPRA Paper 24663, University Library of Munich, Germany.

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation


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