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Financial Liberalization in Latin-America in the 1990s : A Reassessment

Aizenman, Joshua - 2005

This paper studies the experience of Latin-America [LATAM] with financial liberalization in the 1990s. The rush towards financial liberalizations in the early 1990s was associated with expectations that external financing would alleviate the scarcity of saving in LATAM, thereby increasing...

Persistent link: https://www.econbiz.de/10012467540

Emerging Equity Markets and Economic Development

Bekaert, Geert - 2000

We provide an analysis of real economic growth prospects in emerging markets after financial liberalizations. In contrast with previous research, we identify the financial liberalization dates and examine the influence of liberalizations while controlling for a number of other macroeconomic and...

Persistent link: https://www.econbiz.de/10012470987

Speculative Growth : Hints from the US Economy

Caballero, Ricardo - 2004

We propose a framework for understanding recurrent historical episodes of vigorous economic expansion accompanied by extreme asset valuations, as exhibited by the U.S. in the 1990s. We interpret this phenomenon as a high-valuation equilibrium with a low effective cost of capital based on...

Persistent link: https://www.econbiz.de/10012468175

Stock Markets, Banks, and Growth : Panel Evidence

Beck, Thorsten - 2002

This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. On balance, we find that stock markets and banks positively influence economic growth and these findings...

Persistent link: https://www.econbiz.de/10012469631

Stock Market Boom and the Productivity Gains of the 1990s

Jermann, Urban - 2002

Together with a sense of entering a New Economy, the US experienced in the second half of the 1990s an economic expansion, a stock market boom, a financing boom for new firms and productivity gains. In this paper, we propose an interpretation of these events within a general equilibrium model...

Persistent link: https://www.econbiz.de/10012469679

Is Disinflation Good for the Stock Market?

Henry, Peter Blair - 2001

When countries attempt to stabilize annual inflation rates that are greater than 40 percent, the domestic stock market appreciates by 24 percent on average. The present value of the long-run benefits to shareholders of reducing high inflation outweighs the present value of the short-run costs....

Persistent link: https://www.econbiz.de/10012470435

Does Financial Liberalization Spur Growth?

Bekaert, Geert - 2001

We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth over a five-year period. The liberalization effect is not spuriously accounted for by macro-economic reforms and does not reflect a business cycle effect. Although financial...

Persistent link: https://www.econbiz.de/10012470479

Risks in China’s Financial System

Song, Zheng Michael - 2018

Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need to evaluate these risks within China's unique...

Persistent link: https://www.econbiz.de/10012453483

The role of innovation and entrepreneurship in economic growth

Andrews, Michael Jeffrey (ed.); Chatterji, Aaron (ed.); … - National Bureau of Economic Research - 2022

"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations … a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions … allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship …

Persistent link: https://www.econbiz.de/10012625463

The Changing Structure of American Innovation : Some Cautionary Remarks for Economic Growth

Arora, Ashish - 2019

major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a …

Persistent link: https://www.econbiz.de/10012479842

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