Financial crisis hit Australian inventories, paper finds
A sharp decline in inventory investment was an important contributor to the economic slowdown in Australia in 2008–09 – due in large part to a tightening in short-term credit constraints, according to a new Reserve Bank of Australia discussion paper.
In Inventory Investment in Australia and the Global Financial Crisis, Gianni La Cava identifies the causal effect of short-term credit constraints on inventory investment by exploiting variation in the debt maturity structure of Australian companies
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