The composition matters : capital inflows and liquidity crunch during a global economic crisis

The composition matters : capital inflows and liquidity crunch during a global economic crisis / prepared by Hui Tong and Shang-Jin Wei.

We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on extern...

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Bibliographic Details
Main Authors: Tong, Hui (Author), Wei, Shang-Jin (Author)
Corporate Author: International Monetary Fund. Research Department
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2009.
Series:IMF working paper ; WP/09/164.
Subjects:
2008-2009
Global Financial Crisis, 2008-2009.
Capital movements.
Financial crises > Econometric models.
Investments, Foreign.
Capital movements
Financial crises > Econometric models
Investments, Foreign
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