Financial Liberalization and the Efficiency of Investment Allocation

Fabio Schiantarelli, Andrew Weiss, Fidel Jaramillo and Miranda Siregar
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Fidel Jaramillo: World Bank
Miranda Siregar: World Bank

No 266, Boston College Working Papers in Economics from Boston College Department of Economics

Abstract: 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.

Date: 1994-02
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Persistent link: https://EconPapers.repec.org/RePEc:boc:bocoec:266

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