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EBOOK
Author Abiad, Abdul,
Title The quality effect : does financial liberalization improve the allocation of capital? / prepared by Abdul Abiad, Nienke Oomes, and Kenichi Ueda.
Imprint [Washington D.C.] : International Monetary Fund, 2004.

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LOCATION CALL # STATUS MESSAGE
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Author Abiad, Abdul,
Series IMF working paper, 2227-8885 ; WP/04/112
IMF working paper ; WP/04/112.
Subject Financial services industry -- Deregulation -- Developing countries.
Stocks -- Developing countries -- Rate of return.
Asset allocation -- Developing countries.
Investments -- Developing countries.
Alt Name Oomes, Nienke,
Ueda, Kenichi,
International Monetary Fund. Research Department,
Description 1 online resource (34 pages).
Access Use copy Restrictions unspecified star
Reproduction Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
System Details Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
Note digitized 2010 HathiTrust Digital Library committed to preserve pda
Summary 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.
Note Print version record.
Contents ""Contents""; ""I. INTRODUCTION""; ""II. RELATED LITERATURE""; ""III. THE MODEL""; ""IV. DISPERSION IN TOBINa?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""
Bibliography Note Includes bibliographical references.
ISBN 1451899068
9781451899061
9781451853636
1451853637
ISSN 2227-8885
ISBN/ISSN 10.5089/9781451899061.001
OCLC # 647512721
Additional Format Print version: a Abdul Abiad. Quality effect. [Washington D.C.] : International Monetary Fund, 2004 (OCoLC)56832870



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