Money and productive efficiency -: Evidence from a high-inflation country

被引：2
|
作者：
Basci, Erdem [1 ]
Mahmud, Syed F.
Yucel, Eray M.
机构：
[1] Cent Bank Turkey, Res & Monetary Policy Dept, Ankara, Turkey
[2] Bilkent Univ, Dept Econ, Ankara, Turkey
来源：
EMERGING MARKETS FINANCE AND TRADE | 2007年 / 43卷 / 01期
关键词：
high inflation; inventories; manufacturing; money demand by firms; stochastic frontier estimation; Turkey; RELATIVE PRICE VARIABILITY; REAL CASH BALANCES; UNITED-STATES; FRONTIER; LIQUIDITY; ECONOMY; MODEL;
D O I：
10.2753/REE1540-496X430103
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines how money balances held by manufacturing firms affect their efficiency in generating sales revenue in a high-inflation economy. The analysis employs data from Turkish firms to estimate a stochastic frontier model, finding a strong positive association between the firms' money holdings and their efficiency. However the role of money balances seems to diminish as firms hold higher raw material inventories.
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页码：64 / 73
页数：10
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