Investment by Large Firms in Argentina

Author/Editor: Piris, Alvaro
Publication Date: January 01, 2010
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: Strong growth in investment made a key contribution to the economic recovery in Argentina earlier this decade. The paper uses firm-level data to assess changes in financing constraints and the linkages between real investment at the firm level and macroeconomic developments in the real exchange rate and real interest rates. It concludes that several factors explain the performance of investment, including the real exchange rate, the cost of borrowing as well as an easing of financing constraints.
Series: Working Paper No. 10/3
Subject(s): Bank credit | Capital | Corporate sector | Economic models | Economic recovery | Interest rates | Real effective exchange rates

Author's Keyword(s): Argentina | investment
Publication Date: January 01, 2010
ISBN/ISSN: 9781451961690 Format: Paper
Stock No: WPIEA2010003 Pages: 52
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