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Testing liquidity constraints in ten Asian developing countries: an error-correction model approach
[journal article]
Abstract An error-correction model is used to estimate the fraction of consumers who are liquidity-constrained in ten Asian developing countries. Our estimates of the fraction of consumers who are liquidity-constrained range between 0.25 and 0.98. We further investigate whether financial liberalisation has r... view more
An error-correction model is used to estimate the fraction of consumers who are liquidity-constrained in ten Asian developing countries. Our estimates of the fraction of consumers who are liquidity-constrained range between 0.25 and 0.98. We further investigate whether financial liberalisation has resulted in the reduction of liquidity constraints in these countries. However, the results find support for this only in the cases of South Korea, Sri Lanka and Taiwan.... view less
Document language
English
Publication Year
2006
Page/Pages
p. 2535-2543
Journal
Applied Economics, 38 (2006) 21
DOI
https://doi.org/10.1080/00036840500427833
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)