Email RIS file
Bookmark
Report an Issue

Financial Liberalization, Credit Constraints, and Collateral - Investment in the Mexican Manufacturing Sector [electronic resource]

Author
Gelos, Gaston
Published
Washington : International Monetary Fund March 1999
Physical Description
50 p.
Additional Creators
Werner, Alejandro M.
Access Online

Availability

I Want It
I Want It

Finding items...

Restrictions on Access
License restrictions may limit access.
Summary
Annotation This paper examines the impact of financial liberalization on fixed investment in Mexico, using establishment-level data from the manufacturing sector. It analyzes changes in cash-flow sensitivities and uses an innovative approach to explore the role of real estate as collateral and deal with a potential censoring problem. the results suggest that financial constraints were eased for small firms but not for large ones. However, banks reliance on collateral in their lending operations increased the importance of real estate. the results provide microeconomic evidence consistent with the role attributed to financial accelerator mechanisms during lending booms and during recessions that stem from financial crises.
Genre(s)
ISBN
9781451844245
1451844247 (Trade Paper)
View MARC record | catkey: 44814231