Financial Constraints and Capacity Adjustment in the United Kingdom: Evidence from a Large Panel of Survey Data

80 Pages Posted: 8 Jun 2016

See all articles by Ulf von Kalckreuth

Ulf von Kalckreuth

Deutsche Bundesbank

Emma Murphy

Bank of England - Financial Stability Assessment Division

Multiple version iconThere are 2 versions of this paper

Date Written: 2005

Abstract

The interrelationship between financial constraints and firm activity is a hotly debated issue. The way firms cope with financial constraints is fundamental to the analysis of monetary transmission, of financial stability and of growth and development. The CBI Industrial Trends Survey contains detailed information on the financial constraints faced by a large sample of UK manufacturers. This paper uses the quarterly CBI Industrial Trends Survey firm level data between January 1989 and October 1999. The cleaned

Keywords: Financial constraints, investment, capacity adjustment, small firm finance, duration analysis

JEL Classification: C33, D92, D21, C41

Suggested Citation

von Kalckreuth, Ulf and Murphy, Emma, Financial Constraints and Capacity Adjustment in the United Kingdom: Evidence from a Large Panel of Survey Data (2005). Available at SSRN: https://ssrn.com/abstract=2785087 or http://dx.doi.org/10.2139/ssrn.2785087

Ulf Von Kalckreuth (Contact Author)

Deutsche Bundesbank ( email )

Wilhelm-Epstein-Strasse 14
Frankfurt/Main D-60431
Germany

Emma Murphy

Bank of England - Financial Stability Assessment Division ( email )

London
United Kingdom

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