We examine stock returns in a cross section of emerging and mature markets (47countries) between 1980-99. The level of financial development turns out to be an important determinant of the performance of stock returns. In general, a deeper and higher quality banking system decreases the...

We investigate how the relative contribution of external factors to stock price movements varies with the degree of financial development. We find that financial development makes stock markets more susceptible to external influences (both financial and macroeconomic). Interestingly, this effect...

Abstract Contemporary economic globalization as a highly dynamic process has seen substantial changes in its organization, governance, geographies and impacts. These global shifts can be characterized by – among other aspects – increased functional and geographical fragmentation of...

Der vorliegende Sammelband schließt nicht nur die Reihe „Wirtschaft und Raum“ ab, sondern dokumentiert auch die Forschungstätigkeit am ehemaligen Institut für Wirtschaftsgeographie der Universität München unter Leitung von Professor Dr. Hans-Dieter Haas. Anlass für diesen Überblick...