Reallocation, Competition, and Productivity: Evidence from a Financial Liberalization Episode
نویسندگان
چکیده
منابع مشابه
Financial Liberalization, Competition and Productivity
Cross-country studies associate financial liberalization with increases in aggregate productivity. This paper argues that this finding can be mainly attributed to reductions in distortions in capital markets that promote competition and encourage firms’ investments in technology. I first develop a simple small open economy model in which capital controls distort access to international borrowin...
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In this paper, we use a detailed plant-level dataset to study the effect of two reforms aimed at increasing product market competition in India – liberalization of foreign direct investment (FDI) and reduction in tariff rates. First, we examine the effect of the liberalization policies on mean plant-level productivity in the liberalized industries. We find a 23% increase in productivity level f...
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Does trade liberalization foster total factor productivity (TFP) growth in the manufacturing sector? Does sectoral trade orientation determine sectoral TFP levels and growth rates? These questions are addressed using pooled pre-and post-liberalization panel data from Cameroonian firms of eight manufacturing industries. A single production function for the whole manufacturing sector is estimated...
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Previous studies seem to agree that increased competition would cause riskier banking behavior. This dissertation shows that when competition intensiÞes, banks have greater incentives for screening loan applicants, and thus loan quality may improve. In addition, competition fosters banks to rely less on collateral requirements. Hence, banks may be less vulnerable to asset price shocks. The empi...
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We construct a time-variant, price-based measure of trade distortions in 28 manufacturing industries for a large sample of countries over the last four decades, documenting facts consistent with the argument that changes in relative prices are an important channel through which an economy’s openness affects outcomes. First, we find that price distortions at the aggregate level are negatively as...
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ژورنال
عنوان ژورنال: The Review of Economic Studies
سال: 2017
ISSN: 0034-6527,1467-937X
DOI: 10.1093/restud/rdx046