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Wang Kuan-Min (Overseas Chinese University), Lee Yuan-Ming (Southern Taiwan University)
Re-Testing Liquidity Constraints in Ten Asian Developing Countries
Argumenta Oeconomica, 2010, nr 2 (25), s. 25-49, tab., wykr., bibliogr. 42 poz.
Słowa kluczowe
Cykl koniunkturalny, Płynność finansowa, Kraje rozwijające się, Wzrost gospodarczy
Business cycles, Financial liquidity, Developing countries, Economic growth
This paper suggests that the strength or weakness of the economy can affect short-run consumption and consumer borrowing in the credit markets, and that these behavioural changes are key factors determining liquidity constraints. A nonlinear threshold model is developed, with the threshold variable of the real GDP growth dividing the model into two regimes: strong economy and weak economy. The model is used to test again for liquidity constraints on consumers in the ten Asian countries analyzed in Habibullah et al. (2006). Of the ten countries, seven are found to exhibit nonlinearity in their consumption data. This confirms that levels of economic growth affect the proportion of consumers who are liquidityconstrained. Weak economic growth is found to be associated with higher levels of liquidity constraints, and strong economic growth with lower levels of constraints.(original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
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