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The Role of Financial (Mis)allocation on Real (Mis)allocation

Cusolito, Ana P.; Fattal-Jaef, Roberto N.; Mare, Davide S. - 2024

This paper leverages the novel methodology by Whited and Zhao (2021) to identify financial distortions and applies it to a sample of 24 European countries. The analyses reveal that less developed economies face more severe financial misallocation. Distortions in the allocation of financial...

Persistent link: https://www.econbiz.de/10015113981

Financial Channels, Property Rights, and Poverty : A Sub-Saharan African Perspective

Huang, Yifei; Singh, Raju Jan - 2016

sectors should improve the allocation of capital by allowing entrepreneurs greater access to finance, which should … (deposits versus credit). Looking at a sample of 37 countries in Sub-Saharan Africa from 1992 through 2006, the paper suggests …

Persistent link: https://www.econbiz.de/10012571285

Financial Inclusion in Africa : An Overview

Demirg????-Kunt, Asli; Klapper, Leora - 2012

This paper summarizes financial inclusion across Africa. First, it provides a brief overview of the African financial … in Africa that use formal and informal financial services and identify the barriers to formal account ownership. Next, it … Africa compares with small and medium enterprises in other developing regions in terms of account ownership and availability …

Persistent link: https://www.econbiz.de/10012554519

Resource Misallocation in Turkey

Nguyen, Ha; Taskin, Temel; Yilmaz, Ayberk - 2016

This paper examines resource misallocation within narrow industries in Turkey. It finds that resource misallocation in Turkey is substantial. The hypothetical gain from moving to "U.S. efficiency" is 24.5 percent of manufacturing total factor productivity in 2014. The evolution of resource...

Persistent link: https://www.econbiz.de/10012570932

Productivity, Welfare and Reallocation : Theory and Firm-Level Evidence

Basu, Susanto; Pascali, Luigi; Schiantarelli, Fabio - 2012

A considerable literature has focused on the determinants of total factor productivity (TFP), prompted by the empirical finding that TFP accounts for the bulk of long-term growth. This paper offers a deeper reason for such focus: the welfare of a representative consumer is summarized by current...

Persistent link: https://www.econbiz.de/10012551445

Do Reorganization Costs Matter for Efficiency? Evidence from a Bankruptcy Reform in Colombia

Gin??, Xavier; Love, Inessa - 2012

The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model that predicts that in a regime with high costs, the law fails to achieve the efficient outcome of liquidating unviable businesses and reorganizing viable ones. The authors test...

Persistent link: https://www.econbiz.de/10012553792

Entry and Exit, Multi-Product Firms, and Allocative Distortions

Fattal Jaef, Roberto N. - 2017

This paper proposes a multi-product model of firm dynamics to understand the implications of allocative distortions for the decisions of firms to enter, exit, and supply products to the market. These margins of adjustment have been largely neglected in the literature yet have direct...

Persistent link: https://www.econbiz.de/10012570427

Taxing the Good? Distortions, Misallocation, and Productivity in Sub-Saharan Africa

Cirera, Xavier; Jaef, Roberto N. Fattal; Maemir, Hibret B. - 2017

This paper uses comprehensive and comparable firm-level manufacturing census data from four Sub-Saharan African countries to examine the extent, costs, and nature of within-industry resource misallocation across heterogeneous firms. The paper finds evidence of severe misallocation in which...

Persistent link: https://www.econbiz.de/10012570610

A Detailed Anatomy of Factor Misallocation in India

Duranton, Gilles; Ghani, Ejaz; Grover, Arti; Kerr, … - 2016

This paper complements the results of earlier work on factor misallocation. The paper first expands the methodology and provides two important decompositions for the main indices. The main result is that factor and output misallocation across districts is at least as important as misallocation...

Persistent link: https://www.econbiz.de/10012571331

Efficiency and Equity Implications of Oil Windfalls in Brazil

Jorgensen, Ole Hagen - 2013

Large oil reserves off the coast of Brazil may substantially increase the country s oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is addressed in this paper for Brazil both theoretically and...

Persistent link: https://www.econbiz.de/10012560200