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Fiscal Stimulus Impact on Firms' Profitability During the Global Financial Crisis
by Carolina Correa-Caro, Leandro Medina, Marcos Poplawski-Ribeiro, and Bennett W. Sutton

Series:Working Paper No. 18/251
ISBN 9781484380659
Code: #WPIEA2018251

Publication year: 2018

Cdn: $27.00; US: $23.50
Paperback
Language: English
38 pages
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Using financial statement data from the Thomson Reuter’s Worldscope database for 22,333 non-financial firms in 52 advanced and emerging economies, this paper examines how fiscal stimulus (i.e., changes in structural deficit) interacted with sectoral business cycle sensitivity affected corporate profitability during the recovery period of the global financial crisis (GFC). Using cross-sectional analyses, our findings indicate that corporate profitability improved significantly after the GFC fiscal stimulus, especially in manufacturing, utilities and retail sectors. Firm size and leverage are also found to be significant in explaining changes in corporate profitability.
Fiscal Stimulus Impact on Firms' Profitability During the Global Financial Crisis
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123936 Added: 2018.12.2