UID:
almafu_9958098775202883
Umfang:
1 online resource (35 p.)
ISBN:
9786613803276
,
9781462348916
,
1462348912
,
9781452792613
,
1452792615
,
9781282110380
,
1282110381
,
9781451899061
,
1451899068
Serie:
IMF Working Papers
Inhalt:
The study documents evidence of a "quality effect" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin's Q across firms. Based on a simple model, the authors predict that financial liberalization, by equalizing access to credit, reduces the variation in expected marginal returns. They test this prediction using a new financial liberalization index and firm-level data for five emerging markets: India, Jordan, Korea, Malaysia, and Thailand. They find strong evidence that financial liberalization, rather than financial deepening, improves allocative efficiency.
Anmerkung:
Description based upon print version of record.
,
""Contents""; ""I. INTRODUCTION""; ""II. RELATED LITERATURE""; ""III. THE MODEL""; ""IV. DISPERSION IN TOBIN�S Q AS A MEASURE OF ALLOCATIVE EFFICIENCY""; ""V. DATA DESCRIPTION""; ""VI. DESCRIPTIVE STATISTICS""; ""VII. PANEL REGRESSIONS""; ""VIII. CONCLUSION""; ""APPENDIX I. Measuring Dispersion in Q: Four Inequality Indices""; ""REFERENCES""
,
English
Weitere Ausg.:
ISBN 9781451853636
Weitere Ausg.:
ISBN 1451853637
Sprache:
Englisch
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