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|z 9781484303085
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|a 1018-5941
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|c BD-DhAAL
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|a Herrala, Risto.
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|a Credit Constraints, Political Instability, and Capital Accumulation /
|c Risto Herrala, Rima Turk-Ariss.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2013.
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|a 1 online resource (26 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Turk-Ariss, Rima.
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|a IMF Working Papers; Working Paper ;
|v No. 2013/246
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2013/246/001.2013.issue-246-en.xml
|z IMF e-Library
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