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Does Financial Liberalisation Improve Access to Investment Finance in Developing Countries?

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  • Conor M. O'Toole

Abstract

This paper considers the effect of financial liberalisation on access to investment finance using firm level data covering 57 developing and transition countries. An index is presented which measures financial market liberalisation along the following policy dimensions: directed lending, credit controls and reserve requirements, state control of banking, openness of international financial flows, banking market entry, prudential regulation and supervision, and securities market development.

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  • Conor M. O'Toole, 2012. "Does Financial Liberalisation Improve Access to Investment Finance in Developing Countries?," WIDER Working Paper Series wp-2012-067, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2012-067
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