Franklin

Credit Constraints, Political Instability, and Capital Accumulation [electronic resource] Herrala, Risto..

Author/Creator:
Herrala, Risto.
Publication:
Washington, D.C. : International Monetary Fund, 2013.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 13/246.
IMF Working Papers; Working Paper No. 13/246.
Format/Description:
Government document
Book
1 online resource (26 p.)
Local subjects:
Capital accumulation. (search)
Capital Budgeting. (search)
Credit ceilings. (search)
Credit constraints. (search)
Energy. (search)
Environment. (search)
Financial Markets. (search)
General. (search)
Investment Policy. (search)
Legal Institutions. (search)
Natural Resources. (search)
Other Economic Systems -- Political Economy. (search)
Political unrest. (search)
Property Rights. (search)
Regional Studies. (search)
Saving and Capital Investment. (search)
Transition economies. (search)
Algeria. (search)
Bahrain. (search)
Djibouti. (search)
Egypt. (search)
Iran, Islamic Republic of. (search)
Iraq. (search)
Jordan. (search)
Kuwait. (search)
Lebanon. (search)
Libyan Arab Jamahiriya. (search)
MENA countries. (search)
Middle East. (search)
Morocco. (search)
North Africa. (search)
Oman. (search)
Qatar. (search)
Saudi Arabia. (search)
Syrian Arab Republic. (search)
Tunisia. (search)
United Arab Emirates. (search)
West Bank and Gaza. (search)
Yemen, Republic of. (search)
Summary:
We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore’s (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financial development measured by a relaxing of financial constraints is key to macroeconomic development.
Notes:
Description based on print version record.
Contributor:
Herrala, Risto.
Turk Ariss, Rima.
Other format:
Print Version:
ISBN:
1484303083:
9781484303085
ISSN:
1018-5941
Publisher Number:
10.5089/9781484303085.001
Access Restriction:
Restricted for use by site license.
Loading...
Location Notes Your Loan Policy
Description Status Barcode Your Loan Policy