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Capital market imperfections before and after financial liberalisation: a ruler-equation approach to panel data for Ecuadorian firms.

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BookPublisher: Washington : World Bank, 1993Subject(s): Capital Market | Ecuador -- Financial policy. -- Ecuador -- Financial policySummary: Econometric results suggest that increasing borrowing costs at the margin and a ceiling on leverage affect small, young firms, but not large, old firms.

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Econometric results suggest that increasing borrowing costs at the margin and a ceiling on leverage affect small, young firms, but not large, old firms.

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Capital market imperfections before and after financial liberalisation: a ruler-equation approach to panel data for Ecuadorian firms.