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Thesis

Capital market imperfections and investment

Subtitle:
evidence from firm-level panel data
Abstract:

Recent work in macroeconomics argues that imperfections in capital markets may magnify business cycle fluctuations by propagating relatively modest shocks. This thesis investigates evidence for such a mechanism (also known as the "financial accelerator") by analysing two empirical models of investment in physical capital that test for the importance of capital market imperfections on firms' investment decisions. These models are, respectively, an error correction specification augmented w...

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Institution:
University of Oxford
Department:
Social Sciences Division
Role:
Author
Publication date:
2000
Type of award:
DPhil
Level of award:
Doctoral
Awarding institution:
University of Oxford
Barcode:
602363243
URN:
uuid:25daf380-c66f-4567-bf80-ff5a2e622b38
Local pid:
td:602363243
Language:
English
Subjects:

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