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Restricciones al Endeudamiento e Inversión

Author

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  • Moral Carcedo, Julian

    () (Departamento de Análisis Económico: Teoría e Historia Económica. Universidad Autónoma de Madrid)

Abstract

El objetivo de este artículo es analizar los efectos derivados de la existencia de imperfecciones en los mercados de deuda sobre la evolución del capital productivo de las empresas. Las imperfecciones que se consideran son, la existencia de primas sobre el nivel de endeudamiento, y el racionamiento en el volumen de crédito, dos de las figuras más extendidas en la literatura económica. Con datos de empresas españolas se ha procedido a analizar si se encuentran indicios de existencia de restricciones tomando como punto de partida las implicaciones teóricas derivadas del modelo, atendiendo a la evolución del endeudamiento y el diferencial entre costes de endeudamiento y rentabilidad.

Suggested Citation

  • Moral Carcedo, Julian, 2007. "Restricciones al Endeudamiento e Inversión," Working Papers in Economic Theory 2007/12, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
  • Handle: RePEc:uam:wpaper:200712
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    File URL: http://www.uam.es/departamentos/economicas/analecon/especifica/mimeo/wp200712.pdf
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    More about this item

    Keywords

    Determinantes de la inversión; restricciones financieras; acelerador financiero.;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing

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