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You Are Suffocating Me! Firm-Level Evidence on Crowding Out / Serhan Cevik.
- Format:
- Book
- Government document
- Author/Creator:
- Cevik, Serhan.
- Series:
- IMF Working Papers; Working Paper ; No. 2019/080
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Corporations--Finance.
- Corporations.
- Physical Description:
- 1 online resource (16 pages) : illustrations.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2019.
- Summary:
- Literature on whether government spending crowds out or crowds in the private sector is large, but still without an unambiguous conclusion. Using firm-level data from Ukraine, this paper provides a granular empirical investigation to disentangle the impact of state-owned enterprises (SOEs) on private firm investment in Ukraine—a large transition economy. Controlling for firm characteristics and systematic differences across sectors, the results indicate that the SOE concentration in a given sector has a statistically significant negative effect on private fixed capital formation, and that the impact of SOEs is stronger in those industries in which SOEs have a more dominant presence. These findings imply that private firms operating in sectors with a high level of SOE concentration invest systematically less than businesses that are not competing directly with SOEs.
- Notes:
- Description based on print version record.
- ISBN:
- 9781498311557
- 1498311555
- 9781498311588
- 149831158X
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