Using a novel database of domestic financial reforms in 90 countries from 1973 to 2014, we document that global financial liberalization followed an S-curve path: reforms were slow and gradual in early periods, accelerated during the 1990s, and slowed down after 2000. We estimate a learning...

This paper mainly examines the effect of financial development on the recession, while controlling for potential recession factors. Using panel data of 129 countries spanning 1990-2010, we implemented "Locally Weighted Scatterplot Smoothing", "Local Linear" and "Iteratively Reweighted Least...

We investigate the effects of financial development on recession while controlling for potential recession factors using data of about 129 countries covering the 1990-2010 period. To the best of our knowledge, this is the first study examining this relationship using a plural and innovative...

Der Bremer Wirtschaftsprofessor (als Herausgeber: "Brauchen wir eine andere Wirtschaft?", BA 1/02) ist Mitglied der "Arbeitsgruppe Alternative Wirtschaftspolitik" und Vertreter einer ganzheitlichen ökonomischen Theorie, die - im Gegensatz zum Neoliberalismus - Sozialpolitik und Ökologie...