financial efficiency in Africa. It uses updated data to appraise second generation reforms in order to gather fresh evidence and …

financial efficiency in Africa. It uses updated data to appraise second generation reforms in order to gather fresh evidence and …

This study investigates the impact of Market Abuse Directive (MAD) adoption by EU countries on capital market …

constraints and distortions to the marginal rental-rate of capital, and develop a measure for the intra-industry misallocation of … factors of production. The distribution of rental rate of capital and two types of firm-level balance sheet characteristics … productivity (TFP). In the model firms that face high capital rental rates borrow in the financial market to lower the marginal …

We show that foreign capital liberalization reduces capital misallocation and increases aggregate productivity in India …. The staggered liberalization of access to foreign capital across disaggregated industries allows us to identify changes in … firms with initially high marginal revenue products of capital (MRPK), liberalization increases revenues by 25%, physical …