Investment, Credit Rationing, and the Soft Budget Constraint: What Would a Well-Functioning Credit Market Look Like?
IV estimates of the link between profits and investment in the Czech Republic find a complex relationship. While firms may occasionally be credit rationed or face soft budget constraints, investments generally flow to industries with the greatest profit potential or need for recapitalization
|Date of creation:||16 Jun 2003|
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- Lubomir Lizal & Jan Svejnar, 2001.
"Investment, Credit Rationing and the Soft Budget Constraint: Evidence from Czech Panel Data,"
William Davidson Institute Working Papers Series
363, William Davidson Institute at the University of Michigan.
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