Series: IMF Working Papers
Author(s): Abdul Abiad , Nienke Oomes , and Kenichi Ueda
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2004
Keywords: Tobin&;amp;#x2019;s Q, financial liberalization, allocative efficiency, inequality, stock market, financial deepening, stock market turnover, stock market capitalization, Financial Markets and the Macroeconomy, General Financial Markets: Government Policy and Regulation,
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 t...