Short-Run Pain, Long-Run Gain

Released on by Mr.Sergio L. Schmukler
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  • Short-Run Pain, Long-Run Gain Book Detail

  • Author : Mr.Sergio L. Schmukler
  • Release Date : 2003-02-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 61
  • ISBN 13 : 1451845286
  • File Size : 51,51 MB
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Short-Run Pain, Long-Run Gain by Mr.Sergio L. Schmukler PDF Summary

Book Description: 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 market 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.

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Short-Run Pain, Long-Run Gain

Short-Run Pain, Long-Run Gain

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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 li

Short-Run Pain, Long-Run Gain

Short-Run Pain, Long-Run Gain

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Total View : 963 Views
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The views on financial liberalization are quite conflictive. Many argue that it triggers financial bubbles and crises. Others claim that financial liberalizatio