| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12997 |
| DP12997 Financing Durable Assets | |
| Adriano A. Rampini | |
| 发表日期 | 2018-06-18 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | This paper studies how the durability of assets affects financing. We show that more durable assets require larger down payments making them harder to finance, because durability affects the price of assets and hence the overall financing need more than their collateral value. Durability affects technology adoption, the choice between new and used capital, and the rent versus buy decision. Constrained firms invest in less durable assets and buy used assets. More durable assets are more likely to be rented. Economies with weak legal enforcement invest more in less durable, otherwise dominated assets and are net importers of used assets. |
| 主题 | Development Economics ; Financial Economics ; Macroeconomics and Growth |
| 关键词 | Durability Financial constraints Collateral Vintage capital Technology adoption Leasing |
| URL | https://cepr.org/publications/dp12997 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541805 |
| 推荐引用方式 GB/T 7714 | Adriano A. Rampini. DP12997 Financing Durable Assets. 2018. |
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