Investment in segmented capital markets (English)

Bankers' screening devices are identified to determine firms' probability of borrowing in the 'formal' segment of the capital market in Pakistan. Incorporating this information, investment functions are estimated using a two stage switching regressions model with endogenous switching. It is concluded that firms that borrow in the 'formal' markets behave according to the flexible accelerator model of investment while non-borrowing firms plough back...

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Author

Nabi,Ijaz;
Document Date
1986/07/01
Document Type
Departmental Working Paper
Report Number
DRD258
Volume No
1
Total Volume(s)
1
Country
Pakistan,
Region
South Asia,
Disclosure Date
2013/06/06
Disclosure Status
Disclosed
Doc Name
Investment in segmented capital markets
Keywords
normal distribution with mean

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Citation

Nabi,Ijaz.

Investment in segmented capital markets (English). Development Research Department discussion paper ; no. DRD 258 Washington DC ; World Bank. http://documents.worldbank.org/curated/en/302771468058769330

Investment in segmented capital markets (English)

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