@techreport{Eklund2008Measuring,
abstract = {We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions.},
address = {Jena},
author = {Johan E. Eklund and Sameeksha Desai},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C00; G32; P00; Allocation of capital; accelerator principle; functional efficiency; Finanzmarkt; Allokationseffizienz; Investition; Elastizit\"{a}t; Tobin's Q; Unternehmensentwicklung; Wertsch\"{o}pfung; Corporate Governance; Sch\"{a}tzung; Welt},
language = {eng},
number = {2008,051},
publisher = {Universit\"{a}t Jena und Max-Planck-Institut f\"{u}r \"{O}konomik},
title = {Measuring the functional efficiency of capital markets},
type = {Jena economic research papers},
url = {http://hdl.handle.net/10419/25732},
year = {2008}
}
