Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/87995 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Working Paper No. 467
Verlag: 
Inter-American Development Bank, Research Department, Washington, DC
Zusammenfassung: 
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.
Dokumentart: 
Working Paper

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