Financial Liberalization and the Efficiency of Investment Allocation
In this paper we investigate whether financial liberalization improves the efficiency with which investment funds are allocated. We develop a simple measure of efficiency and apply it to firm level panel data for Indonesia and Ecuador. We find evidence that financial liberalization has indeed improved the allocation of investment, particularly in Indonesia.
Year of publication: |
1994-02
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Authors: | Schiantarelli, Fabio ; Weiss, Andrew ; Jaramillo, Fidel ; Siregar, Miranda |
Institutions: | Department of Economics, Boston College |
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