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Periods of economic turmoil distort the ability of stock prices to reflect the available information. In the last three decades, emerging markets experienced numerous crises. The major three of them are the Asian Financial Crisis (1997-1998), Global Financial Crisis (2007-2009) and Global...
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The goal of this paper is to provide stylized facts on recovery from economic downturns and to evaluate the role of … macroeconomic policies in promoting recovery. In particular, we examine gross domestic product (GDP) recessions and financial … Development (OECD) economies and 21 developing Asian economies. We find, in general, recovery from a GDP recession in Asian …
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level of output during the recovery, we find that normal recessions are followed by strong recoveries in advanced economies …
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