Bonfiglioli, Alessandra; Mendicino, Caterina - Economics Institute for Research (SIR), … - 2004
. While the removal of capital account restrictions is effective by increasing financial depth, equity market liberalization … restrictions
is effective by increasing financial depth, equity market liberalization
affects growth directly. The empirical analysis … and equity market liberalization.
Our results show that capital account liberalization has a positive effect
on growth …