(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...

Has financial liberalization improved the efficiency with which investment funds are allocated to competing uses? In this paper, we address this question using firm-level panel data from 12 developing countries. We develop a summary index of the efficiency of investment allocation that measures...

The authors address claims that vertical ownership ties reduce programming diversity, restrict entry of competitors to cable, or have other socially undesirable effects.

In this paper, It has been addressed this question using firm-level panel data from 12 developing countries. It was also developed a summary index of the efficiency of investment allocation that measures whether, and to what extent, investment funds are going to firms with a higher marginal...

The authors address claims that vertical ownership ties reduce programming diversity, restrict entry of competitors to cable, or have other socially undesirable effects.

This paper describes the role that informational imperfections in capital markets are likely to play in business cycles. It then developes a simple illustrative model of the impact of adverse selection in the equity market and the way in which this may lead to large fluctuations in the effective...