Credit rationing, profit accumulation and economic growth

被引：6

作者：

Amable, B

Chatelain, JB

Ralf, K

机构：

[1] Amer Univ Paris, ESLSCA, Sch Management, F-94220 Charenton Pont, France

[2] Amer Univ Paris, CEPREMAP, F-94220 Charenton Pont, France

[3] Univ Orleans, LEO, F-45067 Orleans, France

[4] Univ Paris 10, F-75014 Paris, France

[5] CEPREMAP, F-75014 Paris, France

来源：

ECONOMICS LETTERS | 2004年 / 85卷 / 03期

关键词：

endogenous growth; investment; credit rationing;

D O I：

10.1016/j.econlet.2004.03.034

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies how credit rationing affects endogenous growth when capital and debt are related to the firm's internal net worth, taken as collateral. The accumulation of firm's net worth determines the growth rate of capital and the growth rate of the economy. The relation between growth and interest rate is then negative without requiring convex adjustment costs on investment. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：301 / 307

页数：7