Financialisation and firm-level investment in developing and emerging economies
نویسندگان
چکیده
Abstract This article analyses the effects of financialisation on non-financial companies’ (NFCs) investment and explores interactions between structural institutional features developing emerging economies (DEEs). We estimate physical for a sample DEEs using panel data based balance sheets publicly listed NFCs. Our main contribution is to assess NFCs country-level financial development, reform, capital account openness global value chain participation. find that in are highly context specific. Stock market reforms liberalisation, participation chains associated with more pronounced negative investment. analysis provides novel empirical evidence regarding sources variation corporations DEEs.
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ژورنال
عنوان ژورنال: Cambridge Journal of Economics
سال: 2022
ISSN: ['1464-3545', '0309-166X']
DOI: https://doi.org/10.1093/cje/beac030