Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Investment Credit Rationing And The Soft Budget Constraint Evidence From Czech Panel Data PDF full book. Access full book title Investment Credit Rationing And The Soft Budget Constraint Evidence From Czech Panel Data.
| Author | : Lubomir Lizal and Jan Svcjnar |
| Publisher | : |
| Total Pages | : 72 |
| Release | : 2001 |
| Genre | : |
| ISBN | : |
| Author | : Lubomír Lízal |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2001 |
| Genre | : |
| ISBN | : |
| Author | : Marialuz Moreno Badia |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2009-04-01 |
| Genre | : Business & Economics |
| ISBN | : 1451872194 |
The global financial crisis has reopened the debate on the potential spillover effects from the financial sector to the real economy. This paper adds to that debate by providing new evidence on the link between finance and firm-level productivity, focusing on the case of Estonia. We contribute to the literature in two important respects: (i) we look explicitly at the role of financial constraints; and (ii) we develop a methodology that corrects for the misspecification problems of previous studies. Our results indicate that young and highly indebted firms tend to be more financially constrained. Overall, a large number of firms shows some degree of financial constraints, with firms in the primary sector being the most constrained. More importantly, we find that financial constraints do not lower productivity for most sectors.
| Author | : Emilio Colombo |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 179 |
| Release | : 2006-01-27 |
| Genre | : Business & Economics |
| ISBN | : 379081671X |
We would like to thank Akos Valentinyi and Mark Schaffer for their advice on various stages of this research project. We also would like to thank our col leagues at the Department of Economics of the University of Milan - Bicocca for their advice and support. This book is the result of a long term project financed by various research grants: in particular the Phare-Ace programme (Project P-96-6151-R) and a research grant from the Italian Ministry of Education under the young researchers scheme. Milan, March 2005 Emilio Colombo Luca Stanca Contents Introduction 1 Financial market imperfections and corporate decisions: theory and evidence 7 2. 1 Introduction 7 2. 2 Financial market imperfections, investment and cycles 9 2. 2. 1 The Stiglitz view 9 2. 2. 2 Agency costs and macroeconomic fluctuations 15 2. 2. 3 Assessing the differences 18 2. 2. 4 Further developments 20 2. 2. 5 Empirical evidence 22 2. 3 Financial market imperfections and corporate capital structure 24 2. 3. 1 Asymmetric information and capital structure choice . . 25 2. 3. 2 Agency costs and capital structure choice 30 2. 3. 3 Empirical evidence 32 The transformation of the Hungarian financial system 35 3. 1 Introduction 35 3. 2 Macroeconomic background 36 3. 3 Liberalisation, privatisation and financial development 44 3. 3. 1 Banking and credit 45 3. 3. 2 Equity market 48 3. 3. 3 Foreign direct investment 49 3. 4 Financial sector reform 50 3. 4.
| Author | : S. Estrin |
| Publisher | : Springer |
| Total Pages | : 321 |
| Release | : 2007-08-10 |
| Genre | : Business & Economics |
| ISBN | : 0230590322 |
This book covers a wide variety of aspects of transition in Central and Southeast Europe and the CIS, including the socialist legacy, privatization and growth, skills, and banking reforms. It also covers the evolution of the global economy beyond transition, looking at complexity, risk management, the optimal transition path, and globalization.
| Author | : J. Fanelli |
| Publisher | : Springer |
| Total Pages | : 428 |
| Release | : 2006-10-27 |
| Genre | : Business & Economics |
| ISBN | : 0230373615 |
There has been a widespread move toward more market-oriented policies and institutions across the developing and former socialist countries. 31 country studies were undertaken to try to understand the divergent results of these reforms. This book presents the findings of these studies, synthesized on a regional and global basis.
| Author | : William L. Megginson |
| Publisher | : Oxford University Press |
| Total Pages | : 533 |
| Release | : 2005-01-13 |
| Genre | : Business & Economics |
| ISBN | : 0198034318 |
Since 1981, over 100 governments around the world have raised over $1 trillion through the sale of SOEs to private investors. Privatization programs have transformed the role of the state in virtually all-major economies, and have massively increased the capitalization and liquidity of all non-U.S. stock markets. The focus of this book lies on where privatization stands today and what are the next frontiers, the why and how behind countries who privatize certain industries, whether privatization works as an economic tool and important insights relevant to financial institutions such as how to value privatized industries, how share offerings differ from private offerings, and how countries go about harnessing private capital. The book will also represent a key and unique source for information related to the details of asset sales privatization, a summary of statistics of privatized companies from 54 international stock exchanges, regulatory changes and sources for privatization information for investors, government officials, bankers and financial specialists. The volume will serve as an invaluable reference for professionals and as a core or supplementary text in privatization courses.
| Author | : Sunghwan Kim |
| Publisher | : |
| Total Pages | : 356 |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
| Author | : Helena Hannula |
| Publisher | : Ashgate Publishing, Ltd. |
| Total Pages | : 400 |
| Release | : 2006 |
| Genre | : Business & Economics |
| ISBN | : 9780754645610 |
Estonia is regarded by many as one of the most hopeful cases for the integration of eastern Europe into the enlarged European Union. It provides positive examples of how the integration process can be well handled, but at the same time some of the contentious issues this can give rise to. This book assesses the tensions involved in the development of the Estonian economy in terms of growth, convergence, financial development, labour reallocation, structural and organizational change, and the role of foreign companies and international networks. The analysis of Estonia is placed within a broader context and among a wider set of nations, and thus aims at understanding the potential for growth and structural change in the eastern part of the enlarged EU. In these and related fields, the book seeks to draw lessons from Estonia for other new (and indeed future) EU accession countries.
| Author | : Gérard Roland |
| Publisher | : Columbia University Press |
| Total Pages | : 257 |
| Release | : 2008 |
| Genre | : Business & Economics |
| ISBN | : 0231141602 |
The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism. In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.
