Format:
1 Online-Ressource (circa 42 Seiten)
,
Illustrationen
ISBN:
9781513560175
Series Statement:
IMF working paper WP/20, 223
Content:
Using firm-level data on ASEAN5, this paper studies the differential effects of macro-financial and structural factors on corporate saving behavior through the lens of external financing dependence. The finding suggests that non-financial corporations in ASEAN5 have been subject to binding financial constraints over the past two decades. Greater capital account openness or exchange rate depreciation reduces the average saving rate of industries with low dependence on external funds, while it increases the saving rate of industries with high dependence on external funds. The effects are greater for export-oriented industries. An improvement in banking sector competition, banks’ lending efficiency, or policy clarity is associated with lower saving rate of firms across the board
Additional Edition:
Erscheint auch als Druck-Ausgabe Li, Xin External Financing Dependence and Corporate Saving in ASEAN5 Washington, D.C. : International Monetary Fund, 2020 ISBN 9781513560175
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781513560175.001
