| Description |
1 online resource (44 pages) |
| Series |
IMF working paper ; WP/99/32 |
|
IMF working paper ; WP/99/32
|
| Summary |
This paper reports on a large empirical study of corporate rates of return in emerging markets during the 1980s and 1990s. Its main purpose is to analyze changes in corporate profitability and to examine their implications for the dynamics of the competitive process in these countries, and for economic efficiency. Apart from their intrinsic interest, these issues have acquired fresh significance in the context of the current crisis in the east Asian economies. It has been argued that these highly successful economies with an unparalleled sustained record of fast economic growth have come to grief because of fundamental flaws in their corporate, financial and governance systems. Specifically, it is suggested that the crisis was in part caused by over-investment which in turn resulted from a poor competitive environment and disregard for profits in corporate investment decisions. 1 Although this paper does not directly address the question of the east Asian economic crisis,2 it provides important evidence on the nature and intensity of competition in these economies |
| Bibliography |
Includes bibliographical references (pages 42-44) |
| Notes |
Print version record |
| Subject |
Competition -- Developing countries.
|
|
Corporate profits -- Developing countries.
|
|
Corporations -- Developing countries -- Finance.
|
|
Rate of return -- Developing countries.
|
| Form |
Electronic book
|
| Author |
Matthias, Rudolph.
|
|
Singh, Ajit, 1940-
|
|
International Monetary Fund. Research Department.
|
| ISBN |
1281606529 |
|
1451892594 |
|
9781281606525 |
|
9781451892598 |
|
