Corporate Investments in Asian Emerging Markets: Financial Conditions, Financial Development, and Financial Constraints
Gochoco-Bautista, Maria Socorro
- Publisher: Manila: Asian Development Bank (ADB)
corporate investments | investment sensitivity to cash flows | financial condition index | financial development index | financial constraints
Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a samp...