01920cas a2200241 a 4500 AALejournalIMF009276 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451866827 1018-5941 BD-DhAAL BD-DhAAL Tang, Man-Keung. Private-Sector Financial Liabilities in Advanced Economies : Is More Better? / Man-Keung Tang. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Advanced economies have been experiencing diverse developments in accumulation of financial liabilities by their household and corporate sectors since around 1995. Crosscountry- industry evidence indicates that the type of the financial system and the degree of labor market flexibility matter for the economic impact of expanded borrowings. Especially in countries with a more arm's length-based financial system and less rigid labor market, faster creation of corporate liabilities in recent years appears to have spurred growth of industries more reliant on external finance, and strengthened the development of growing industries. The findings suggest an association of recent increases in corporate borrowings with a reduction in costs of external finance and improvement in resource allocation-two supposed channels through which finance facilitates growth. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2007/118 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/118/001.2007.issue-118-en.xml IMF e-Library