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¿Mejora la apertura financiera la asignación de la inversión? Elementos de juicio a nivel micro de países en desarrollo

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  • Arturo Galindo

    ()

  • Fabio Schiantarelli
  • Andrew Weiss

Abstract

(Disponible en idioma inglés únicamente) ¿Ha mejorado la apertura financiera la eficiencia con la que se distribuyen los fondos de inversión a los usuarios que compiten por ellos? En este trabajo estudiamos esta cuestión empleando datos de panel al nivel de empresa correspondientes a 12 países en desarrollo. Desarrollamos un índice resumido de la eficiencia en la asignación de inversiones que cuantifica si los fondos de inversión llegan hasta las empresas que exhiben un rendimiento marginal del capital mayor, y hasta qué punto. Luego analizamos la relación entre este índice y varias mediciones de apertura financiera. Los resultados sugieren que, en la mayoría de los casos, la reforma financiera ha conducido a un aumento de la eficiencia con la que se asignan los fondos de inversión.

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Bibliographic Info

Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4296.

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Date of creation: Apr 2002
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Handle: RePEc:idb:wpaper:4296

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