Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia /
Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating inve...
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
1999.
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| Colección: | IMF Working Papers; Working Paper ;
No. 1999/143 |
| Acceso en línea: | Full text available on IMF |