search query: @journal_id 4617 / total: 38
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| Author: | Fuchs-Schündeln, N. Funke, N. |
| Title: | Stock market liberalizations: financial and macroeconomic implications |
| Journal: | Review of World Economics
2003 : VOL. 139:4, p. 730-761 |
| Index terms: | Liberalization Regulations Stock markets |
| Language: | eng |
| Abstract: | New evidence on the effects of stock market liberalization on financial and macroeconomic development is presented in this article. A panel of 27 countries is used to associate liberalization with a short-term increase in real private investment growth of about 14 percentage points cumulatively in the four years following liberalization and a cumulative 4 percentage point increase in real GDP per capita growth. The benefits of liberalization are higher in countries that have improved their institutional framework prior to liberalization. |
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