Cargando…

The composition matters : capital inflows and liquidity crunch during a global economic crisis /

We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on extern...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Tong, Hui (Autor), Wei, Shang-Jin (Autor)
Autor Corporativo: International Monetary Fund. Research Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2009.
Colección:IMF working paper ; WP/09/164.
Temas:
Acceso en línea:Texto completo

MARC

LEADER 00000cam a2200000 a 4500
001 EBOOKCENTRAL_ocn649749666
003 OCoLC
005 20240329122006.0
006 m o d
007 cr unu||||||||
008 100722s2009 dcua ob i000 0 eng d
040 |a CUS  |b eng  |e pn  |c CUS  |d OCLCQ  |d OCLCA  |d OCLCF  |d OTZ  |d OCLCE  |d YDXCP  |d EBLCP  |d OCLCQ  |d OCL  |d OCLCQ  |d CUS  |d ZCU  |d MERUC  |d OCLCA  |d ICG  |d DKC  |d OCLCQ  |d OCL  |d OCLCQ  |d OCLCO  |d OCLCQ  |d OCLCO  |d OCLCL  |d OCLCQ  |d OCLCL 
019 |a 870245407  |a 875238028  |a 891560557  |a 1420102989 
020 |a 1451917392 
020 |a 9781451917390 
024 8 |a 10.5089/9781451917390.001 
029 1 |a AU@  |b 000053012386 
029 1 |a DEBBG  |b BV044178575 
035 |a (OCoLC)649749666  |z (OCoLC)870245407  |z (OCoLC)875238028  |z (OCoLC)891560557  |z (OCoLC)1420102989 
042 |a dlr 
050 4 |a HG3810 
082 1 4 |a 330  |q OCoLC 
049 |a UAMI 
100 1 |a Tong, Hui,  |e author. 
245 1 4 |a The composition matters :  |b capital inflows and liquidity crunch during a global economic crisis /  |c prepared by Hui Tong and Shang-Jin Wei. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2009. 
300 |a 1 online resource (37 pages) :  |b illustrations. 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF working paper ;  |v WP/09/164 
588 0 |a Print version record. 
504 |a Includes bibliographical references (pages 20-23). 
520 3 |a We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on external finance for working capital. The volume of capital flows has no significant effect on the severity of the credit crunch. However, the composition of capital flows matters: pre-crisis exposure to non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also hold surrounding the Lehman Brothers bankruptcy. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [S.l.] :  |c HathiTrust Digital Library,  |d 2011.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2011  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a I. Introduction; II. Specification and Key Variables; A. Basic Specification; B. Key Data; III. Empirical Analysis; A. The Extent of Financial Constraint; B. The Role of Pre-crisis Exposure to International Finance; Conclusion; References; Tables; 1. Average Change of Stock Price(log); 2a. Summary Statistics; 2b. Correlation of Variables; 3. The Average Effect of Liquidity Crunch Across Countries; 4. Pre-Crisis Exposure to Capital Inflows; 5. Role of Pre-Crisis Exposure to Capital Inflows in Emerging Economies (Volume Effect). 
505 8 |a 6. Role of Pre-Crisis Exposure to Capital Inflows in Emerging Economies (Composition Effect)7. Role of Pre-Crisis Exposure to Capital Inflows (Robusiness Checks); 8. Role of Pre-Crisis Exposure to Capital Inflows (More Robustness Checks); 9. Role of Pre-Crisis Exposure to Capital Inflows in Emerging Economies (Non-financial firms); 10. Placebo Test; 11. Stock Returns Around Lehman Brothers Bankruptcy; Figures; 1. Capital Flow to Emerging Economies; 2. The Extent of Capital Reversal versus the Initial Share of FDI in Capital Flows. 
505 8 |a 3. Change in Log Banking Stock Prices vs Pre-Crisis International Bank LoansAppendix; 1. De Jure Financial Openness for Year 2006. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Global Financial Crisis, 2008-2009. 
650 0 |a Capital movements. 
650 0 |a Financial crises  |x Econometric models. 
650 0 |a Investments, Foreign. 
650 6 |a Crise financière mondiale, 2008-2009. 
650 6 |a Mouvements de capitaux. 
650 6 |a Investissements étrangers. 
650 7 |a Capital movements  |2 fast 
650 7 |a Financial crises  |x Econometric models  |2 fast 
650 7 |a Investments, Foreign  |2 fast 
647 7 |a Global Financial Crisis  |d (2008-2009)  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm  |0 (OCoLC)fst01755654 
648 7 |a 2008-2009  |2 fast 
700 1 |a Wei, Shang-Jin,  |e author. 
710 2 |a International Monetary Fund.  |b Research Department. 
758 |i has work:  |a The composition matters (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGCYWg6JdYQJjpGtJQ96fC  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Tong, Hui.  |t Composition matters.  |d [Washington, D.C.] : International Monetary Fund, ©2009  |w (OCoLC)580417540 
830 0 |a IMF working paper ;  |v WP/09/164. 
856 4 0 |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608384  |z Texto completo 
938 |a ProQuest Ebook Central  |b EBLB  |n EBL1608384 
938 |a YBP Library Services  |b YANK  |n 11617948 
994 |a 92  |b IZTAP