The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis
The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis
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Oxford: Oxford University Press
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English
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Oxford: Oxford University Press
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This article studies whether the volume and composition of capital flows affect the degree of credit crunch during the 2007—2009 crisis. Using data on 3,823 firms in 24 emerging countries, we find that, on average, the decline in stock prices was more severe for firms that are intrinsically more dependent on external finance for working capital. In...
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The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis
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TN_cdi_proquest_miscellaneous_877846670
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_miscellaneous_877846670
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ISSN
0893-9454
E-ISSN
1465-7368
DOI
10.1093/rfs/hhq078
