Hidden Bibliographic Details
| Other authors / contributors: | Stone, Mark R. (Mark Richard)
International Monetary Fund. Research Department.
International Monetary Fund. Asia and Pacific Department.
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| ISBN: | 145190150X
9781451901504
1282105078
9781282105072
1462348874
9781462348879
1452788553
9781452788555
9786613799548
6613799548
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| Notes: | Includes bibliographical references (pages 27-29).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
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. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating investment and selling their capital goods-at a discount-to try to stay afloat. Lower investment and wasteful capital sales shrink the aggregate capital stock, trigger deflationary pressures, and contract overall output. the available data are broadly consistent with the assumptions and predictions of the model.
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| Other form: | Print version: Kim, Se-Jik, 1960- Corporate leverage, bankruptcy, and output adjustment in post-crisis East Asia. [Washington, D.C.] : International Monetary Fund, Research Department and Asia and Pacific Department, ©1999
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| Standard no.: | 10.5089/9781451901504.001
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