LEADER 05707oam 22015254 450 001 9910162944603321 005 20250426110921.0 010 $a9781475568189 010 $a1475568185 010 $a9781475568202 010 $a1475568207 035 $a(CKB)3710000001045028 035 $a(MiAaPQ)EBC4800273 035 $a(IMF)WPIEA2016248 035 $aWPIEA2016248 035 $a(EXLCZ)993710000001045028 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aDoes Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus /$fSophia Chen, Yinqiu Lu 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (27 pages) $cillustrations (some color), graphs, tables 225 1 $aIMF Working Papers 311 08$a9781475563122 311 08$a1475563124 320 $aIncludes bibliographical references. 330 3 $aFixed investment was the most important contributing factor to the boom-bust cycle in Cyprus over the last decade. Investment boomed during a credit boom in mid-2000s, during which the corporate sector borrowed heavily. Investment collapsed after 2008 when the credit boom ended. Investment and corporate balance sheets further deteriorated during the Cypriot banking crisis over 2012?2014. Using firm-level investment and balance sheet data, we find that corporate indebtedness is negatively associated with investment both before and after the banking crisis, although the effect is weaker after the Cypriot banking crisis, possibly due to the reduced role of credit in driving post-crisis investment and growth. Our results suggest the need to repair corporate balance sheets to support sustainable invesetment. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2016/248 606 $aPublic investments 606 $aFinancial statements 606 $aBanks and banking 606 $aAccounting$2imf 606 $aBanks and Banking$2imf 606 $aFinancial Risk Management$2imf 606 $aLabor$2imf 606 $aMoney and Monetary Policy$2imf 606 $aInvestment$2imf 606 $aCapital$2imf 606 $aIntangible Capital$2imf 606 $aCapacity$2imf 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aCapital Budgeting$2imf 606 $aFixed Investment and Inventory Studies$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aPublic Administration$2imf 606 $aPublic Sector Accounting and Audits$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aFinancial Crises$2imf 606 $aWages, Compensation, and Labor Costs: General$2imf 606 $aFinancial reporting, financial statements$2imf 606 $aMonetary economics$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aFinancial statements$2imf 606 $aCurrencies$2imf 606 $aWages$2imf 606 $aFinancial crises$2imf 606 $aBanking crises$2imf 606 $aPublic financial management (PFM)$2imf 606 $aMoney$2imf 606 $aFinance, Public$2imf 606 $aIncome economics$2imf 607 $aCyprus$2imf 615 0$aPublic investments. 615 0$aFinancial statements. 615 0$aBanks and banking. 615 7$aAccounting 615 7$aBanks and Banking 615 7$aFinancial Risk Management 615 7$aLabor 615 7$aMoney and Monetary Policy 615 7$aInvestment 615 7$aCapital 615 7$aIntangible Capital 615 7$aCapacity 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aFinancial Markets and the Macroeconomy 615 7$aCapital Budgeting 615 7$aFixed Investment and Inventory Studies 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aPublic Administration 615 7$aPublic Sector Accounting and Audits 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aFinancial Crises 615 7$aWages, Compensation, and Labor Costs: General 615 7$aFinancial reporting, financial statements 615 7$aMonetary economics 615 7$aEconomic & financial crises & disasters 615 7$aLabour 615 7$aincome economics 615 7$aFinancial statements 615 7$aCurrencies 615 7$aWages 615 7$aFinancial crises 615 7$aBanking crises 615 7$aPublic financial management (PFM) 615 7$aMoney 615 7$aFinance, Public 615 7$aIncome economics 676 $a332.67252 700 $aChen$b Sophia$01208992 701 $aLu$b Yinqiu$01114888 801 0$bDcWaIMF 906 $aBOOK 912 $a9910162944603321 996 $aDoes Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus$93652820 997 $aUNINA