| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21690 |
| 来源ID | Working Paper 21690 |
| Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity | |
| Murillo Campello; Mauricio Larrain | |
| 发表日期 | 2015-11-02 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Recent reforms across Eastern European countries gave more flexibility and information for parties to engage in secured debt transactions. The menu of assets legally accepted as collateral was enlarged to include movable assets (e.g., machinery and equipment). Generalized difference-in-differences tests show that firms operating more movable assets borrowed more as a result of such reforms. Those firms also invested more, hired more, and became more efficient and profitable following the changes in the contracting environment. The financial deepening we document triggered important reallocation effects: Firms affected by the reforms increased their share of fixed assets and employment in the economy. |
| 主题 | Financial Economics ; Corporate Finance ; Other ; Law and Economics ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w21690 |
| 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/579365 |
| 推荐引用方式 GB/T 7714 | Murillo Campello,Mauricio Larrain. Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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