Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25732 
Year of Publication: 
2008
Series/Report no.: 
Jena Economic Research Papers No. 2008,051
Publisher: 
Friedrich Schiller University Jena and Max Planck Institute of Economics, Jena
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

Files in This Item:
File
Size
421.29 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.