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http://hdl.handle.net/10419/25732
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| Title: | | Measuring the functional efficiency of capital markets  |
| Authors: | | Eklund, Johan E. Desai, Sameeksha |
| Issue Date: | | 2008 |
| Series/Report no.: | | Jena economic research papers 2008,051 |
| 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. |
| Subjects: | | Allocation of capital accelerator principle functional efficiency |
| JEL: | | C00 G32 P00 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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