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        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation
        Credit Constraints  Political Instability  and Capital Accumulation

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        Credit Constraints Political Instability and Capital Accumulation

        ABSTRACT

        We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore’s (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financial development measured by a relaxing of financial constraints is key to macroeconomic development.

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        • TypeReport
        • PriceFree
        • FormatPDF
        • Size486 KB
        • LanguageEnglish
        • Stacks0
        • Postedabout 4 years ago
        • Authored-
        • Added byHashdoc Content Review
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