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|z 9781451853636
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|a Abiad, Abdul.
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|a The Quality Effect :
|b Does Financial Liberalization Improve the Allocation of Capital? /
|c Abdul Abiad, Nienke Oomes, Kenichi Ueda.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2004.
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|a 1 online resource (35 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Oomes, Nienke.
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|a Ueda, Kenichi.
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|a IMF Working Papers; Working Paper ;
|v No. 2004/112
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2004/112/001.2004.issue-112-en.xml
|z IMF e-Library
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