This article investigates the financing constraints and investment efficiency of
Canadian real estate and construction firms (RECFs) using a stochastic frontier
approach. Our results support the observation that Canadian RECFs have a
strong dependence of using both equity financing and debt financing and debt
financing is likely to reduce the uncertainty of future financing while equity
financing might enlarge the uncertainty. Regional analysis shows that the
investment efficiency level o...
Depending on the pace of economic development and structural reforms in an economy, the sectoral output level also changes. Usually, sectoral capital accumulation, labor reallocation across sectors, and total factor productivity contributes to sectoral performance. This paper explores the pace of economic development and sectors’ role in the Hungary economy in the context of the demand and supply side. The current study aims to analyze input-output linkages to locate structural changes and inte...