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| Author: | Laeven, L. |
| Title: | Does financial liberalization reduce financing constraints? |
| Journal: | Financial Management
2003 : SPRING, VOL. 32:1, p. 5-34 |
| Index terms: | Companies by size Developing countries Financing Liberalization |
| Language: | eng |
| Abstract: | The author uses panel data on a large number of firms in 13 developing countries to find out whether financial liberalization relaxes financing constraints of firms. He finds that liberalization affects small and large firms differently. Small firms are financially constrained before the start of the liberalization process, but become less so after liberalization. Financing constraints of large firms, however, are low before financial liberalization, but become higher as financial liberalization proceeds. |
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