| dc.creator |
Khwaja, Asim Ijaz |
|
| dc.creator |
Mian, Atif |
|
| dc.creator |
Zia, Bilal |
|
| dc.date |
2012-03-30T07:28:55Z |
|
| dc.date |
2012-03-30T07:28:55Z |
|
| dc.date |
2010 |
|
| dc.date.accessioned |
2023-02-18T19:43:35Z |
|
| dc.date.available |
2023-02-18T19:43:35Z |
|
| dc.identifier |
Review of Financial Studies |
|
| dc.identifier |
08939454 |
|
| dc.identifier |
http://hdl.handle.net/10986/4630 |
|
| dc.identifier.uri |
http://localhost:8080/xmlui/handle/CUHPOERS/250110 |
|
| dc.description |
We exploit an unexpected inflow of liquidity in an emerging market to study how capital is intermediated to firms. We find that backward-looking credit limit constraints imposed by banks make it difficult for firms to borrow, despite readily available bank liquidity, healthy aggregate demand, and a sharply falling cost of capital. The resulting aggregate failure to extend and retain capital in the economy suggests that agency costs that force banks to rely on sticky balance-sheet-based credit limits prevent emerging economies from effectively intermediating capital. |
|
| dc.language |
EN |
|
| dc.relation |
http://creativecommons.org/licenses/by-nc-nd/3.0/igo |
|
| dc.rights |
World Bank |
|
| dc.subject |
Capital |
|
| dc.subject |
Investment |
|
| dc.subject |
Capacity E220 |
|
| dc.subject |
Financial Markets and the Macroeconomy E440 |
|
| dc.subject |
Banks |
|
| dc.subject |
Other Depository Institutions |
|
| dc.subject |
Micro Finance Institutions |
|
| dc.subject |
Mortgages G210 |
|
| dc.subject |
Economic Development: Financial Markets |
|
| dc.subject |
Saving and Capital Investment |
|
| dc.subject |
Corporate Finance and Governance O160 |
|
| dc.subject |
International Linkages to Development |
|
| dc.subject |
Role of International Organizations O190 |
|
| dc.title |
Dollars Dollars Everywhere, nor Any Dime to Lend : Credit Limit Constraints on Financial Sector Absorptive Capacity |
|
| dc.type |
Journal Article |
|
| dc.type |
Journal Article |
|