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Financial and labor market imperfections and investment

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
102
Issue
1
Identifiers
DOI: 10.1016/j.econlet.2008.10.005
Keywords
  • Investment Models
  • Financing Constraints
  • Labor Protection Legislation
  • Panel Data Models

Abstract

Abstract This paper analyses how financial and labor market imperfections jointly influence investment. The contemporaneous presence of imperfections gives rise to a negative correlation between EPL and investment. Our results support the policies promoted by European institutions to reform both markets.

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