Hidden Bibliographic Details
| Other authors / contributors: | Funke, Norbert.
International Monetary Fund.
IMF Institute.
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| ISBN: | 128201126X
9781282011267
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| Notes: | Includes bibliographical references (pages 38-40).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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.
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| Other form: | Print version: Fuchs-Schündeln, Nicola. Stock market liberalizations. [Washington, D.C.] : International Monetary Fund, ©2001
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