Capital Flows with Debt- and Equity-Financed Investment-Equilibrium Structure and Efficiency Implications /

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 m...

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Detalhes bibliográficos
Autor principal: Razin, Assaf
Outros Autores: Sadka, Efraim, Yuen, Chi-Wa
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 1998.
Colecção:IMF Working Papers; Working Paper ; No. 1998/159
Acesso em linha:Full text available on IMF
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100 1 |a Razin, Assaf. 
245 1 0 |a Capital Flows with Debt- and Equity-Financed Investment-Equilibrium Structure and Efficiency Implications /  |c Assaf Razin, Chi-Wa Yuen, Efraim Sadka. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1998. 
300 |a 1 online resource (21 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Sadka, Efraim. 
700 1 |a Yuen, Chi-Wa. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1998/159 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1998/159/001.1998.issue-159-en.xml  |z IMF e-Library