文章基本信息

标题：Measuring the Functional Efficiency of Capital Markets
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作者：Desai, Sameeksha ; Eklund, Johan E. ; Max Planck Institute of Economics 等
期刊名称：Jena Economic Research Papers
电子版ISSN：1864-7057
出版年度：2008
卷号：2
出版社：Max Planck Society
摘要：
We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions.
关键词：accelerator principle;Allocation of capital;functional efficiency