Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/119713 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Nota di Lavoro No. 105.2002
Verlag: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Zusammenfassung: 
Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market liquidity measures in a panel with monthly data of 19 developed economies. Privatization is shown to be key in improving domestic stock market liquidity, controlling for other economic, financial and institutional determinants. Results do not appear to be driven by reverse causality or non-stationarity of the data.
Schlagwörter: 
Privatization
Financial Market Development
JEL: 
L33
G14
Dokumentart: 
Working Paper

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