Arbeitspapier
Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries
Has financial liberalization improved the efficiency with which investment funds are allocated to competing uses? In this paper, we address this question using firm-level panel data from 12 developing countries. We develop a summary index of the efficiency of investment allocation that measures whether, and to what extent, investment funds are going to firms with a higher marginal return to capital. We then examine the relationship between this index and various measures of financial liberalization. The results suggest that in the majority of cases financial reform has led to an increase in the efficiency with which investment funds are allocated.
- Language
-
Englisch
- Bibliographic citation
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Series: Working Paper ; No. 467
- Classification
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Wirtschaft
- Subject
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Finanzmarktregulierung
Investition
Allokationseffizienz
Entwicklungsländer
- Event
-
Geistige Schöpfung
- (who)
-
Galindo, Arturo
Schiantarelli, Fabio
Weiss, Andrew
- Event
-
Veröffentlichung
- (who)
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Inter-American Development Bank, Research Department
- (where)
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Washington, DC
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Galindo, Arturo
- Schiantarelli, Fabio
- Weiss, Andrew
- Inter-American Development Bank, Research Department
Time of origin
- 2002
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