- A-Z
- Jena Economic Resea...
- Volume 2
- Measuring the Funct...
Measuring the Functional Efficiency of Capital Markets
- Autor(in)
- Erschienen
- 18. Juni 2008
- Nummer des Discussion-Papers
-
2008-051
- Schlagwort(e)
-
accelerator principle
Allocation of capital
functional efficiency
- Zusammenfsg.
-
We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- article research fields JER
- economics
- JEL-Classification for JER
- C00 - General ; G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure ; P00 - General