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The Quality Effect :, Does Financial Liberalization Improve the Allocation of Capital?, Abdul Abiad, Nienke Oomes, Kenichi Ueda

Abstract
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
Table Of Contents
""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""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (35 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781282110380

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