Capital Flows with Debt- and Equity-financed Invesment [sic] PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Capital Flows with Debt- and Equity-financed Invesment [sic] PDF full book. Access full book title Capital Flows with Debt- and Equity-financed Invesment [sic] by Assaf Razin. Download full books in PDF and EPUB format.
![Capital Flows with Debt- and Equity-financed Invesment [sic] PDF](https://books.google.com/books/content/images/frontcover/G2ygzQEACAAJ?fife=w150-h200)
Author: Assaf Razin
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 18
Get Book Here
Book Description
![Capital Flows with Debt- and Equity-financed Invesment [sic] PDF](https://books.google.com/books/content/images/frontcover/G2ygzQEACAAJ?fife=w80-h100)
Author: Assaf Razin
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 18
Get Book Here
Book Description
Author: Efraim Sadka
Publisher: International Monetary Fund
ISBN: 1451857640
Category : Business & Economics
Languages : en
Pages : 22
Get Book Here
Book Description
This paper distinguishes between debt and equity flows in the presence of information asymmetry between the firm’s “insiders” and “outsiders” in a small open economy. It shows the inadequacy of capital investment because its scope is too narrow and the investment each firm makes is too little. An unconventional policy tool is proposed to correct the market failure: lump-sum subsidies to firms that choose to equity-finance their investments.
Author: Ms.Deniz Igan
Publisher: International Monetary Fund
ISBN: 1513581260
Category : Business & Economics
Languages : en
Pages : 31
Get Book Here
Book Description
Exploiting a granular panel dataset that breaks down capital inflows into FDI, portfolio and other categories, and distinguishes between credit to the household sector and to the corporate sector, we investigate the association between capital inflows and credit growth. We find that non-FDI capital inflows boost credit growth and increase the likelihood of credit booms in both household and corporate sectors. For household credit growth, the composition of capital inflows appears to be more important than financial system characteristics. In contrast, for corporate credit growth, both the composition and the financial system matter. Regardless of sectors and financial systems, net other inflows are always linked to rapid credit growth. Firm-level data corroborate these findings and hint at a causal link: net other inflows are related to more rapid credit growth for firms that rely more heavily on external financing. Further explorations on how capital flows translate into more credit indicate that both demand and supply side factors play a role.
Author: Mr.John C Bluedorn
Publisher: International Monetary Fund
ISBN: 1484311280
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt.
Author: Joseph W. Bartlett
Publisher: Aspen Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 600
Get Book Here
Book Description
Disks contain supplementary forms on disc and examples in RTF format.
Author: Sreenivasa Ramachandran
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 100
Get Book Here
Book Description
Author: Rebecca M. Neumann
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
Get Book Here
Book Description
Author: Ann E. Harrison
Publisher: World Bank Publications
ISBN:
Category : Capital movements
Languages : en
Pages : 62
Get Book Here
Book Description
Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease host-country firms' financing constraints. However, if incoming foreign investors borrow heavily from domestic basnks, direct foreign investment (DFI) may exacerbate financing constraints by crowding host country firms out of domestic capital markets. Combininb a unique cross-country firm-level panel with time-series data on restrictions on international transactions and capital flows, we find that different measures of global flows are associated with a reduction in firm-level financing constraints. First, we show that one type of capital inflow--DFI--is associated with a reduction in financing constraints. Second, we test whether restrictions on international transactions affect firms' financing constraints. Our results suggest that only one type of restriction--those on capital account transactions--negatively affect firms' financing constraints. We also show that multinational firms are not financially constrained and do not appear to be sensitive to the level of DFI. This implies that DFI eases financing constraints for non-multinational firms. Finally, we show that DFI only eases financing constraints in the non-G7 countries.
Author: Chang Ma
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 75
Get Book Here
Book Description
We propose a theory of endogenous composition of capital flows that highlights two asymmetries between international equity and debt financing. In our model, poor institutional quality leads to an inefficiently low share of equity financing as well as an inefficiently high volume of total inflows. The required optimal capital controls naturally become looser as a country's institutional quality improves. Our story differs in important ways from an alternative narrative focusing on collateral constraint.
Author:
Publisher:
ISBN:
Category : Investments, American
Languages : en
Pages : 112
Get Book Here
Book Description
