Does Financial Liberalization Relax Financing Constraints on Firms?

Does Financial Liberalization Relax Financing Constraints on Firms?

The author uses panel data on 394 firms in 13 developing countries for the years 1988-98 to learn whether financial liberalization relaxes financing constraints on firms. He finds that liberalization affects small and large firms differently. Small...

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Bibliographic Details
Main Author: Laeven, Luc
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCOUNTING
AGENCY PROBLEMS
ASYMMETRIC INFORMATION
AUTOREGRESSION
BANKING SECTOR
BARRIERS TO ENTRY
BASLE ACCORD
BORROWING
BORROWING CONSTRAINTS
BORROWING COSTS
CAPITAL ACCUMULATION
CAPITAL ADEQUACY
CAPITAL MARKETS
CENTRAL BANK
CONSTANT RETURNS TO SCALE
CONTRACT ENFORCEMENT
CREDIT CONTROL
CREDIT MARKETS
CREDIT RATIONING
CREDIT SYSTEMS
DEBT
DEPOSITS
DEREGULATION
DISCOUNT RATE
DIVIDENDS
ECONOMIES OF SCALE
EFFICIENCY OF CAPITAL
EMPIRICAL ANALYSIS
ENDOGENOUS VARIABLES
EQUATIONS
EXOGENOUS VARIABLES
EXPECTED PRESENT VALUE
EXPECTED VALUE
EXTERNAL FINANCING
FINANCIAL DEREGULATION
FINANCIAL FACTORS
FINANCIAL LEVERAGE
FINANCIAL MARKETS
FINANCIAL REFORM
FINANCIAL SECTOR
FINANCIAL SYSTEMS
FIXED CAPITAL
FOREIGN BANKS
HIGHLY LEVERAGED FIRMS
INFORMATION ASYMMETRY
INTEREST RATE
INTEREST RATES
LOW INTEREST RATES
MARKET LIBERALIZATION
MULTIPLIERS
NET SALES
NET WORTH
PRIVATIZATION
PRODUCTION FUNCTION
PRODUCTIVITY
PROFITABILITY
RESERVE REQUIREMENTS
SAVINGS
SECURITIES
SECURITIES MARKETS
SOFT BUDGET CONSTRAINTS
STATE BANKS
STATEMENTS
STOCK MARKETS
SUBSIDIARIES
SUBSIDIARY
TIME DEPOSITS
TRANSITION ECONOMIES
VALUATION
Online Access:http://documents.worldbank.org/curated/en/2000/10/692863/financial-liberalization-relax-financing-constraints-firms
http://hdl.handle.net/10986/19780

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