全球智库信息集成服务系统(G2TT): Investment during the Korean Financial Crisis: A Structural Econometric Analysis

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w13315
来源ID	Working Paper 13315
	Investment during the Korean Financial Crisis: A Structural Econometric Analysis
	Simon Gilchrist; Jae W. Sim
发表日期	2007-08-21
出版年	2007
语种	英语
摘要	This paper uses firm-level panel data to analyze the role of financial factors in determining investment outcomes during the Korean financial crisis. Our identification strategy exploits the presence of foreign-denominated debt to measure shocks to the financial position of firms following the devaluation that occurred during the crisis period. Structural parameter estimates imply that financial factors may account for 50% to 80% of the overall drop in investment observed during this episode. Our estimates also imply that foreign-denominated debt had relatively little effect on aggregate investment spending. Counterfactual experiments suggest sizeable contractions in investment through this mechanism for economies that are more heavily dependent on foreign-denominated debt however.
主题	Macroeconomics ; Consumption and Investment ; Money and Interest Rates ; International Economics ; International Finance ; Financial Economics ; Corporate Finance
URL	https://www.nber.org/papers/w13315
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/570987
推荐引用方式 GB/T 7714	Simon Gilchrist,Jae W. Sim. Investment during the Korean Financial Crisis: A Structural Econometric Analysis. 2007.

条目包含的文件
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w13315.pdf（487KB）	智库出版物		限制开放	CC BY-NC-SA	浏览