Research Discussion Paper – RDP 2005-12 Financial Constraints, the User Cost of Capital and Corporate Investment in Australia

Contents

• Introduction
• Theory
• Data
• Modelling Strategy and Results
• Conclusion
• Appendix A: Variable Definitions, Sources and Summary Statistics
• Appendix B: Measurement Issues
• Appendix C: Comparisons with Earlier Australian Studies
• References

The author would like to thank Luci Ellis, James Holloway, Christopher Kent, Tony Richards, Geoffrey Shuetrim, James Vickery, seminar participants at the Reserve Bank of Australia and especially Alex Heath for helpful comments and discussion. The views expressed in this paper are those of the author and do not necessarily reflect the views of the Reserve Bank of Australia.