Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25732
Authors: 
Eklund, Johan E.
Desai, Sameeksha
Year of Publication: 
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

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