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Cited by 964

The DOI matches its Crossref record; 65 of the 65 references it cites were found in a registry or an index.

Financial Development and Financing Constraints: International Evidence from the Structural Investment Model

Love, Inessa·2003·Review of Financial Studies
DOI 10.1093/rfs/hhg013
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Abstract

This article provides evidence that financial development impacts growth by reducing financing constraints that would otherwise distort efficient allocation of investment. The financing constraints are inferred from the investment Euler equation by assuming that the firm's stochastic discount factor is a function of the firm's financial position (specifically, the stock of liquid assets). The magnitude of the changes in the cost of capital is twice as large in a country with a low level of financial development as in a country with an average level of financial development. The size effect, business cycles, and legal environment effects are also considered.

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Metadata

Authors
Love, I.
Venue
Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2003-07
Volume
16
Issue
3
Pages
765-791
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/hhg013
OpenAlex
W2123252687
Cited by
964
References
65
FWCI
62.77
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Financial Development and Financing Constraints: International Evidence from the Structural Investment Model. https://app.cochat.ai/papers/10.1093/rfs/hhg013
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Love, I. (2003). Financial Development and Financing Constraints: International Evidence from the Structural Investment Model. Review of Financial Studies. https://doi.org/10.1093/rfs/hhg013

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.