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E-book
Author Kaminsky, Graciela

Title Short-Run Pain, Long-Run Gain The Effects of Financial Liberalization / Graciela Kaminsky, Sergio Schmukler
Published Cambridge, Mass. National Bureau of Economic Research 2003

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Description 1 online resource
Series NBER working paper series no. w9787
Working paper series (National Bureau of Economic Research) ; no. w9787.
Summary We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization
Notes June 2003
Mode of access: World Wide Web
Subject Children -- Health and hygiene.
Finance.
Capital market.
finance.
Capital market
Children -- Health and hygiene
Finance
General.
Current Account Adjustment Short-Term Capital Movements.
Form Electronic book
Author Schmukler, Sergio