Stock Market Liberalizations: Financial and Macroeconomic Implications
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Bibliographic Details
Main Author: Funke, Norbert (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2001
Series:IMF Working Papers Working Paper No. 01/193
Links:http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
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http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
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http://elibrary.imf.org/view/IMF001/06511-9781451859812/06511-9781451859812/06511-9781451859812.xml
Abstract:Using a panel of 27 countries, we analyze the effects of stock market liberalization on financial and macroeconomic development. We find that liberalization is associated with a short-term increase in real private investment growth of about 14 percentage points cumulatively in the four years following liberalization and a cumulative 4 percentage point increase in real GDP per capita growth. Growth tends to be higher if institutional reforms precede liberalization. In contrast to other studies, we also find evidence for a permanent growth effect of about 0.4 percent a year in an extended sample of 72 countries
Physical Description:1 Online-Ressource (40 p)
ISBN:1451859813
9781451859812