Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department.
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| ISBN: | 145189807X
9781451898071
1281265977
9781281265975
1462345905
9781462345908
1452739145
9781452739144
9786613778192
6613778192
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| Notes: | Includes bibliographical references (pages 23-25).
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: | There is increasing emphasis on the importance of efficient financial markets for sustained real investment and economic growth, yet limited empirical research on the effects of the deregulation of financial markets on the firm's investment decisions. The purpose of this paper is to model the impact of financial reforms on borrowing constraints faced by firms and to test the impact of financial reforms on the investment decisions of firms in Turkey. To do so, the paper builds a dynamic investment model, where financial variables and real investment are linked through the net present value of the firm. The derived investment model is employed to test whether Turkey's efforts at financial liberalization in 1980 were able to relax the borrowing constraints faced by Turkish firms. A dynamic panel data methodology is used on a panel data set of 1036 Turkish firms over the 1983-86 period. In addition, time-series analysis is employed on Turkish aggregate data over the 1971-91 period.
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| Other form: | Print version: Sancak, Cemile. Financial liberalization and real investment. [Washington, D.C.] : International Monetary Fund, African Dept., ©2002
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| Standard no.: | 10.5089/9781451898071.001
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