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has significant effects on the cost of capital, investment, and economic growth …
Persistent link: https://www.econbiz.de/10012465962
-level dataset on investment, stock prices, and sales. In the three-year period following liberalizations, the growth rate of the … rises in the post-liberalization period, suggesting that the investment boom does not constitute a wasteful binge. In the … cross section, changes in investment are significantly correlated with the signals about fundamentals embedded in the stock …
Persistent link: https://www.econbiz.de/10012468376
investment opportunities drive the cross-sectional variation in the post-liberalization investment increases …
Persistent link: https://www.econbiz.de/10012469806
This paper quantifies the welfare impact of a permanent increase in the level of per capita income brought about by a temporary increase in the growth rate of GDP per capita following capital account liberalization. In the immediate aftermath of liberalization, and under a range of assumptions,...
Persistent link: https://www.econbiz.de/10012453793