Corporate Financial Structure and Financial Stability /

This paper uses flow-of-funds and balance sheet data to analyze the impact of financial crises on corporate financing and GDP in a range of countries. Post-crisis GDP contractions are mainly accounted for by declines in investment and inventory and are more severe for emerging market countries. Post...

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Detalhes bibliográficos
Autor principal: Stone, Mark
Outros Autores: Davis, E.
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 2004.
Colecção:IMF Working Papers; Working Paper ; No. 2004/124
Acesso em linha:Full text available on IMF
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520 3 |a This paper uses flow-of-funds and balance sheet data to analyze the impact of financial crises on corporate financing and GDP in a range of countries. Post-crisis GDP contractions are mainly accounted for by declines in investment and inventory and are more severe for emerging market countries. Post-crisis investment and inventory declines are correlated with the corporate debtequity ratio. Although companies in emerging market countries hold more liquidity, this is not sufficient to prevent a greater response of expenditures to shocks. Industrial countries appear to benefit from an offsetting increase in bond issuance. 
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700 1 |a Davis, E. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2004/124 
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