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Financial Development and Dynamic Investment Behavior : Evidence from Panel Vector Autoregression

The authors apply vector autoregression to firm-level panel data from 36 countries to study the dynamic relationship between firms' financial conditions and investment. They argue that by using orthogonalized impulse-response functions they ar...

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Bibliographic Details
Main Authors: Love, Inessa, Zicchino, Lea
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCOUNTING
ADVERSE SELECTION
ASYMMETRIC INFORMATION
AUTOREGRESSION
BALANCE SHEETS
BUSINESS CYCLES
CAPITAL ALLOCATION
CAPITAL MARKETS
CD
CREDIT MARKETS
DEBT
DIMINISHING RETURNS
ECONOMETRIC MODELS
ECONOMETRICS
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC STATISTICS
ECONOMICS
ECONOMISTS
EXTERNAL FINANCING
FINANCIAL FACTORS
FINANCIAL INTERMEDIARIES
FINANCIAL INTERMEDIARY DEVELOPMENT
FINANCIAL INTERMEDIATION
FINANCIAL MARKETS
FIXED ASSETS
GDP
HUMAN CAPITAL
INNOVATIONS
LESS DEVELOPED COUNTRIES
LIQUIDITY
M3
MARGINAL PRODUCT
MARGINAL PRODUCTIVITY
MORAL HAZARD
NET WORTH
NPV
POLITICAL ECONOMY
PRESENT VALUE
PROFITABILITY
PROGRAMS
REAL INTEREST RATE
STOCK MARKETS
TIME SERIES FINANCIAL DEVELOPMENT
INVESTMENT BEHAVIOR
VECTOR AUTOREGRESSION
FINANCIAL SYSTEMS
COLLATERAL
DECISION MAKING
ALLOCATION OF RESOURCES
CASH FLOW
TIME SERIES
FINANCIAL DEVELOPMENT
Online Access:http://documents.worldbank.org/curated/en/2002/10/2040839/financial-development-dynamic-investment-behavior-evidence-panel-vector-autoregression
http://hdl.handle.net/10986/19216

Internet

http://documents.worldbank.org/curated/en/2002/10/2040839/financial-development-dynamic-investment-behavior-evidence-panel-vector-autoregression
http://hdl.handle.net/10986/19216

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