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We investigate the effect of a stock market liberalization on industry growth in emerging markets. Consistent with the view that liberalization reduces financing constraints, we find that industries that are more externally dependent and face better growth opportunities grew faster following...
Persistent link: https://www.econbiz.de/10012940688
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10008907303
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10013132042
Financial markets in most developed economies were open to foreign investors before 1980, yet these countries continued to reform their financial systems dramatically in subsequent decades. During the same time period, high-skill industries become increasingly important; for example, in the US...
Persistent link: https://www.econbiz.de/10013063144
cross-section and over time. In periods of free capital movement world-wide, a country’s level of financial development is …
Persistent link: https://www.econbiz.de/10012446566
Persistent link: https://www.econbiz.de/10010212785
The chapter reconceptualizes financial innovation. In this context, it discusses the risks of financial innovation and contemporary regulatory reforms addressing those risks. It provides a critique of contemporary reforms. Finally, it stresses the need for a new framework to regulate financial...
Persistent link: https://www.econbiz.de/10012904840
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10010286191
Based on a survey of 54 published articles, we undertake a meta-analysis of 906 estimates of the effects of financial liberalization on economic growth. We conclude that the literature contains statistically significant evidence of a positive effect of financial liberalization on economic...
Persistent link: https://www.econbiz.de/10014494195
The objective of this study is to rule on the correlation between liberalization of the capital account and economic growth. We were in particular interested in the channels of foreign direct investment and portfolio investment. Our empirical study was carried out on a sample of 100 developed...
Persistent link: https://www.econbiz.de/10014215694