Financial development and allocation of external finance

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SYSNO ASEP	0330767
Document Type	J - Journal Article
R&D Document Type	Journal Article
Subsidiary J	Ostatní články
Title	Financial development and allocation of external finance
Author(s)	Bena, Jan (NHU-N) Ondko, Peter (NHU-N)
Source Title	CERGE-EI Working Paper Series - ISSN 1211-3298 -, č. 398 (2009), s. 1-49
Number of pages	49 s.
Publication form	www - www
Language	eng - English
Country	CZ - Czech Republic
Keywords	financial development ; external finance ; allocative efficiency
Subject RIV	AH - Economics
R&D Projects	LC542 GA MŠMT - Ministry of Education, Youth and Sports (MEYS)
CEZ	AV0Z70850503 - NHU-N (2005-2011)
Annotation	We examine whether financial systems facilitate efficient allocation of resources into perspective projects. Employing European micro-level data from 1996-2005, we show that firms in industries with the best growth opportunities use more external finance in financially more developed countries.
Workplace	Economics Institute
Contact	Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122
Year of Publishing	2010

Number of the records: 1