Investment, credit rationing, and the soft budget constraint: what would a well-functioning credit market look like?

被引：4

作者：

Hanousek, J

Filer, RK

机构：

[1] CUNY Hunter Coll, Grad Ctr, CERGE EI Fdn, Teaneck, NJ 07666 USA

[2] Charles Univ Prague, Acad Sci Czech Republ, CERGE EI, Prague 11121 1, Czech Republic

来源：

ECONOMICS LETTERS | 2004年 / 82卷 / 03期

关键词：

credit rationing; soft budget constraint; investment;

D O I：

10.1016/j.econlet.2003.09.017

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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 greatest profit potential or recapitalization need. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：385 / 390

页数：6

共 3 条

[1] Investment, credit rationing, and the soft budget constraint:: Evidence from Czech panel data
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REVIEW OF ECONOMICS AND STATISTICS, 2002, 84 (02) : 353 - 370
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