Capital Flows With Debt- And Equity-Financed Investment-Equilibrium Structure And Efficiency Implications
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| Originally published | November 1998 |
| Authors | Assaf Razin |
| Efraim Sadka | |
| Chi-Wa Yuen | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2097564 |
About Capital Flows With Debt- And Equity-Financed Investment-Equilibrium Structure And Efficiency Implications
This paper distinguishes between debt and equity flows in the presence of information asymmetry between the firm's “insiders” and “outsiders” in a small open economy. It shows the inadequacy of capital investment because its scope is too narrow and the investment each firm makes is too little. . . .