EconStor >
Universität Osnabrück >
Institut für Empirische Wirtschaftsforschung, Universität Osnabrück >
Working Papers, Institut für Empirische Wirtschaftsforschung, Universität Osnabrück >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/66515
  
Title:Decomposing the effects of financial liberalization: Crises vs. growth PDF Logo
Authors:Ranciere, Romain
Tornell, Aaron
Westermann, Frank
Issue Date:2006
Series/Report no.:Working Paper, Institut für Empirische Wirtschaftsforschung, University of Osnabrück 74
Abstract:We present a new empirical decomposition of the e.ects of financial liberalization on economic growth and on the incidence of crises. Our empirical estimates show that the direct e.ect of financial liberalization on growth by far outweighs the indirect e.ect via a higher propensity to crisis. We also discuss several models of financial liberalization and growth whose predictions are consistent with our empirical findings.
JEL:F34
F36
F43
O41
Document Type:Working Paper
Appears in Collections:Working Papers, Institut für Empirische Wirtschaftsforschung, Universität Osnabrück

Files in This Item:
File Description SizeFormat
729718905.pdf334.71 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/66515

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.