University of Hertfordshire

Corporate financing and macroeconomic volatility in the European union

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Corporate financing and macroeconomic volatility in the European union. / Mullineux, A.; Murinde, V.; Sensarma, R.

In: International Economics and Economic Policy, Vol. 8, No. 1, 2010, p. 79-92.

Research output: Contribution to journalArticlepeer-review

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Mullineux, A. ; Murinde, V. ; Sensarma, R. / Corporate financing and macroeconomic volatility in the European union. In: International Economics and Economic Policy. 2010 ; Vol. 8, No. 1. pp. 79-92.

Bibtex

@article{f8dee7b8e75d473b96224a8bda6e180d,
title = "Corporate financing and macroeconomic volatility in the European union",
abstract = "This paper investigates the impact of corporate financing patterns in the European Union (EU) on macroeconomic volatility. We examine macroeconomic data for eight EU countries. We find that during the period 1990 through 2005 bank financing was positively associated with volatility in GDP, consumption and investment. On the other hand, macroeconomic volatility declined with increased dependence on market-based financing from the equity and bond markets during this period.",
keywords = "corporate financing, EU, fixed-effects regression, macroeconomic volatility",
author = "A. Mullineux and V. Murinde and R. Sensarma",
note = "Original article can be found at: www.springerlink.com Copyright Springer",
year = "2010",
doi = "10.1007/s10368-010-0152-1",
language = "English",
volume = "8",
pages = "79--92",
journal = "International Economics and Economic Policy",
issn = "1612-4804",
publisher = "Springer Verlag",
number = "1",

}

RIS

TY - JOUR

T1 - Corporate financing and macroeconomic volatility in the European union

AU - Mullineux, A.

AU - Murinde, V.

AU - Sensarma, R.

N1 - Original article can be found at: www.springerlink.com Copyright Springer

PY - 2010

Y1 - 2010

N2 - This paper investigates the impact of corporate financing patterns in the European Union (EU) on macroeconomic volatility. We examine macroeconomic data for eight EU countries. We find that during the period 1990 through 2005 bank financing was positively associated with volatility in GDP, consumption and investment. On the other hand, macroeconomic volatility declined with increased dependence on market-based financing from the equity and bond markets during this period.

AB - This paper investigates the impact of corporate financing patterns in the European Union (EU) on macroeconomic volatility. We examine macroeconomic data for eight EU countries. We find that during the period 1990 through 2005 bank financing was positively associated with volatility in GDP, consumption and investment. On the other hand, macroeconomic volatility declined with increased dependence on market-based financing from the equity and bond markets during this period.

KW - corporate financing

KW - EU

KW - fixed-effects regression

KW - macroeconomic volatility

U2 - 10.1007/s10368-010-0152-1

DO - 10.1007/s10368-010-0152-1

M3 - Article

VL - 8

SP - 79

EP - 92

JO - International Economics and Economic Policy

JF - International Economics and Economic Policy

SN - 1612-4804

IS - 1

ER -