Stock market liberalizations: Financial and macroeconomic implications
نویسندگان
چکیده
منابع مشابه
Financial Dependence, Stock Market Liberalizations, and Growth
Stock market liberalizations provide a natural experiment to test for the causal relation between financial development and economic growth. We test this relation by investigating whether liberalizations facilitate growth through the particular mechanism of reducing capital market imperfections that drive a wedge between the external and internal cost of capital to firms. Using panel data on a ...
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متن کاملTHE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Financial Dependence, Stock Market Liberalizations, and Growth
Stock market liberalizations provide a natural experiment to test for the causal relation between financial development and economic growth. We test this relation by investigating whether liberalizations facilitate growth through the particular mechanism of reducing capital market imperfections that drive a wedge between the external and internal cost of capital to firms. Using panel data on a ...
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ژورنال
عنوان ژورنال: Review of World Economics
سال: 2003
ISSN: 1610-2878,1610-2886
DOI: 10.1007/bf02653111