Stock Market Liberalizations : Financial and Macroeconomic Implications »
Journal Issue
Volume/Issue: 2001/193
Series: IMF Working Papers
Author(s): Norbert Funke , and Nicola Fuchs-Schündeln
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2001
DOI: http://dx.doi.org/10.5089/9781451859812.001
ISBN: 9781451859812
Keywords: financial liberalization, regulation, stock market, stock market liberalization, credit rating, stock market liberalizations, General Financial Markets,
Using a panel of 27 countries, we analyze the effects of stock market liberalization on financial and macroeconomic development. We find that liberalization is associated with a short-term increase in real private...