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Testing liquidity constraints in ten Asian developing countries: an error-correction model approach

[journal article]

Habibullah, Muzafar Shah; Smith, Peter; Azman-Saini, W.N.W

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Please use the following Persistent Identifier (PID) to cite this document:http://nbn-resolving.de/urn:nbn:de:0168-ssoar-239416

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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 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.
Document language English
Publication Year 2006
Page/Pages p. 2535-2543
Journal Applied Economics, 38 (2006) 21
DOI http://dx.doi.org/10.1080/00036840500427833
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)