Financial reform and the efficiency of credit allocation in Korea
This study analyzes some of the structural problems associated with the Korean financial sector, and investigates the efficiency of credit allocation by the financial system over the period from 1970 to 1996. Using data at the level of 32 industrial branches, we find no evidence that credit flows were directed sectors that were more profitable, either before or after financial reforms were initiated in the 1980s. We also find that the financial support did not contribute to improve the performance of the favored industries over time.
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Volume (Year): 8 (2005)
Issue (Month): 1 ()
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References listed on IDEAS
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- Galindo, Arturo & Schiantarelli, Fabio & Weiss, Andrew, 2007.
"Does financial liberalization improve the allocation of investment?: Micro-evidence from developing countries,"
Journal of Development Economics,
Elsevier, vol. 83(2), pages 562-587, July.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2005. "Does Financial Liberalization Improve the Allocation of Investment? Micro Evidence from Developing Countries," Boston College Working Papers in Economics 625, Boston College Department of Economics.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2002. "Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries," Research Department Publications 4295, Inter-American Development Bank, Research Department.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2001. "Does Financial Liberalization Improve the Allocation of Investment? Micro Evidence from Developing Countries," Boston College Working Papers in Economics 503, Boston College Department of Economics, revised 29 Oct 2003.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2002. "Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries," IDB Publications (Working Papers) 6496, Inter-American Development Bank.
- Leipziger, D.M. & Petri, P.A., 1993. "Korean Industrial Policy: Legacies of the Past and Directions for the Future," World Bank - Discussion Papers 197, World Bank.
- Cho, Yoon Je, 1988. "The effect of financial liberalization on the efficiency of credit allocation : Some evidence from Korea," Journal of Development Economics, Elsevier, vol. 29(1), pages 101-110, July.
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