The Financing of Industry, 1970-89: An International Comparison.
The main aims of this paper are, first, to construct a consistent comparative set of data on the sources of finance for investment over the period 1970--89 for Germany, Japan, the United Kingdom and the United States and second, to challenge some conventional views of the international differences i...
| Հիմնական հեղինակներ: | , |
|---|---|
| Ձևաչափ: | Working paper |
| Լեզու: | English |
| Հրապարակվել է: |
CEPR
1994
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| _version_ | 1826288508516433920 |
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| author | Corbett, J Jenkinson, T |
| author_facet | Corbett, J Jenkinson, T |
| author_sort | Corbett, J |
| collection | OXFORD |
| description | The main aims of this paper are, first, to construct a consistent comparative set of data on the sources of finance for investment over the period 1970--89 for Germany, Japan, the United Kingdom and the United States and second, to challenge some conventional views of the international differences in financing patterns. The paper documents the substantial problems of international comparisons, and argues that net sources and using data based on National Income Accounts provide the most appropriate and consistent information. We conclude that there is no 'market-based' Anglo-US pattern of financing of industry. Germany, the United Kingdom and the United States are internally financed with small or negative contributions from market sources. Japan has been more externally financed with both banks and markets contributing larger shares than in the former group. Over the 1980s, the period of financial liberalization, all countries, except Japan, have become more internally and less market financed. |
| first_indexed | 2024-03-07T02:14:46Z |
| format | Working paper |
| id | oxford-uuid:a1d83360-1424-479f-8b37-881c0fca4912 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T02:14:46Z |
| publishDate | 1994 |
| publisher | CEPR |
| record_format | dspace |
| spelling | oxford-uuid:a1d83360-1424-479f-8b37-881c0fca49122022-03-27T02:16:03ZThe Financing of Industry, 1970-89: An International Comparison.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:a1d83360-1424-479f-8b37-881c0fca4912EnglishDepartment of Economics - ePrintsCEPR1994Corbett, JJenkinson, TThe main aims of this paper are, first, to construct a consistent comparative set of data on the sources of finance for investment over the period 1970--89 for Germany, Japan, the United Kingdom and the United States and second, to challenge some conventional views of the international differences in financing patterns. The paper documents the substantial problems of international comparisons, and argues that net sources and using data based on National Income Accounts provide the most appropriate and consistent information. We conclude that there is no 'market-based' Anglo-US pattern of financing of industry. Germany, the United Kingdom and the United States are internally financed with small or negative contributions from market sources. Japan has been more externally financed with both banks and markets contributing larger shares than in the former group. Over the 1980s, the period of financial liberalization, all countries, except Japan, have become more internally and less market financed. |
| spellingShingle | Corbett, J Jenkinson, T The Financing of Industry, 1970-89: An International Comparison. |
| title | The Financing of Industry, 1970-89: An International Comparison. |
| title_full | The Financing of Industry, 1970-89: An International Comparison. |
| title_fullStr | The Financing of Industry, 1970-89: An International Comparison. |
| title_full_unstemmed | The Financing of Industry, 1970-89: An International Comparison. |
| title_short | The Financing of Industry, 1970-89: An International Comparison. |
| title_sort | financing of industry 1970 89 an international comparison |
| work_keys_str_mv | AT corbettj thefinancingofindustry197089aninternationalcomparison AT jenkinsont thefinancingofindustry197089aninternationalcomparison AT corbettj financingofindustry197089aninternationalcomparison AT jenkinsont financingofindustry197089aninternationalcomparison |