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2016 | OriginalPaper | Buchkapitel

Impact of Local Government Monetary and Fiscal Policies on Output Growth of Firms

verfasst von : Changkeun Lee, Euijune Kim

Erschienen in: Quantitative Regional Economic and Environmental Analysis for Sustainability in Korea

Verlag: Springer Singapore

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Abstract

This study explores the impacts of the monetary and fiscal policies of local governments on the output growth of firms, using multilevel statistical models. It concludes that short-term loans and bonds have a positive influence on output growth but long-term loans have a negative effect, while the effect of paid-in-capital increases is inconclusive and insignificant. A credit guarantee from the local government has the largest impact on the elasticity values of factor inputs and financing amounts with respect to output, compared to other government expenditure programs.

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Titel: Impact of Local Government Monetary and Fiscal Policies on Output Growth of Firms
verfasst von: Changkeun Lee
Euijune Kim
Verlag: Springer Singapore
Buch: Quantitative Regional Economic and Environmental Analysis for Sustainability in Korea
Print ISBN: 978-981-10-0298-4

Electronic ISBN: 978-981-10-0300-4

Copyright-Jahr: 2016
DOI: https://doi.org/10.1007/978-981-10-0300-4_6

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