Hwang, Kwang‐Myoung; Park, Donghyun; Shin, Kwanho - 2015
openness is output volatility. In this paper, using data from 21 advanced and 81 developing countries during 1971-2010, we … empirically examine the impact of capital market openness on output volatility. We find that opening of capital markets increases … the output volatility of developing countries. Furthermore, we find that the main channel through which capital market …
