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. This article was one of the products of a research project carried out together with other Italian university aimed at studying the effects of contemporaneous markets imperfections on firms' decisions. This approach was also the novelty of the paper and the whole research project.
Financial and Labor Market Imperfections and Investment
CALCAGNINI, GIORGIO;GIOMBINI, GERMANA;
2009
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. This article was one of the products of a research project carried out together with other Italian university aimed at studying the effects of contemporaneous markets imperfections on firms' decisions. This approach was also the novelty of the paper and the whole research project.File in questo prodotto:
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