This paper examines the impact of privatization on stock market size and liquidity in a multinational sample of 31 emerging markets. We find that the intensity of privatization and the use of privatization offerings on the stock market contribute to enhance stock market development. To enable...

We study empirically how the positive effects of capital account liberalization on economic growth can be magnified or reduced by Corruption control. We develop a model in which Corruption control and capital account liberalization promote growth, but acts as substitutes. We test this...