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Financial Openness and the Chinese Growth Experience
Bekaert, Geert - 2012
We reflect on China's economic performance from the perspective of the experiences of a broad panel of countries. We formulate an econometric framework building on standard growth regressions that allows us to measure the impact of various factors on economic growth and growth variability. As...
Persistent link: https://www.econbiz.de/10012713022
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Growth Volatility and Financial Liberalization
Bekaert, Geert - 2012
We examine the effects of both equity market liberalization and capital account openness on real consumption growth variability. We show that financial liberalization is mostly associated with lower consumption growth volatility. Our results are robust, surviving controls for business-cycle...
Persistent link: https://www.econbiz.de/10012713608
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Does Financial Liberalization Spur Growth?
Bekaert, Geert - 2012
We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth. The effect is robust to alternative definitions of liberalization and does not reflect variation in the world business cycle. The effect also remains intact when an exogenous...
Persistent link: https://www.econbiz.de/10012713655
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Financial Openness and Productivity
Bekaert, Geert; Harvey, Campbell; Lundblad, Christian - National Bureau of Economic Research (NBER) - 2009
Financial openness is often associated with higher rates of economic growth. We show that the impact of openness on factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of liberalization appear to be largely permanent, not...
Persistent link: https://www.econbiz.de/10005778218
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Emerging Equity Markets in a Globalizing World
Bekaert, Geert - 2017
Given the dramatic globalization over the past twenty years, does it make sense to segregate global equities into “developed” and “emerging” market buckets? We argue that the answer is still yes. While correlations between developed and emerging markets have increased, the process of...
Persistent link: https://www.econbiz.de/10012973844
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Emerging Equity Markets in a Globalizing World
Bekaert, Geert - 2014
Given the dramatic globalization over the past twenty years, does it make sense to segregate global equities into “developed” and “emerging” market buckets? We argue that the answer is still yes. While correlations between developed and emerging markets have increased, the process of...
Persistent link: https://www.econbiz.de/10013051425
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Who Is Internationally Diversified? Evidence from the 401(k) Plans of 296 Firms
Bekaert, Geert - 2016
Drawing on a novel database of the 401(k) plans of 296 firms, we examine the international equity allocations of 3.8 million individuals over the period 2005-2011. We find enormous cross-individual variation, ranging from zero to more than 75%, and strong cohort effects, with younger cohorts...
Persistent link: https://www.econbiz.de/10013006222
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Who Is Internationally Diversified? Evidence from the 401(k) Plans of 296 Firms
Bekaert, Geert - 2016
Drawing on a novel database of the 401(k) plans of 296 firms, we examine the international equity allocations of 3.8 million individuals over the period 2005-2011. We find enormous cross-individual variation, ranging from zero to more than 75%, and strong cohort effects, with younger cohorts...
Persistent link: https://www.econbiz.de/10013006580
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Research in Emerging Markets Finance : Looking to the Future
Bekaert, Geert - 2011
Much has been learned about emerging markets finance over the past 20 years. These markets have attracted a unique interdisciplinary interest that bridges both investment and corporate finance with international economics, development economics, law, demographics and political science. Our paper...
Persistent link: https://www.econbiz.de/10012714701
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The (Re)allocation of Bank Risk
Bekaert, Geert - 2020
disproportionately by other banks. Second, households are disproportionally exposed to riskier bank securities. Third, about 30% of bank … inclusion of some banks on the list of other systemically important institutions (O-SII) – which makes them subject to more … stringent supervisory and regulatory requirements – as a shock to the riskiness of securities issued by those banks. Following …
Persistent link: https://www.econbiz.de/10012848093