دانلود مقاله ISI انگلیسی شماره 12473
عنوان فارسی مقاله

چه مسائلی برای توسعه مالی مهم است؟ کنترل سرمایه، موسسات، و تعاملات

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
12473 2006 30 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
What matters for financial development? Capital controls, institutions, and interactions
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Development Economics, Volume 81, Issue 1, October 2006, Pages 163–192

کلمات کلیدی
- توسعه مالی - کنترل های سرمایه ای - آزادسازی مالی - نهادهای حقوقی - دنباله ای از آزاد سازی -
پیش نمایش مقاله
پیش نمایش مقاله چه مسائلی برای توسعه مالی مهم است؟ کنترل سرمایه، موسسات، و تعاملات

چکیده انگلیسی

We investigate whether financial openness leads to financial development after controlling for the level of legal development using a panel encompassing 108 countries over the period 1980 to 2000. We also examine the issue of the optimal sequence of liberalization in both goods and financial markets. Our findings suggest that a higher level of financial openness spurs equity market development only if a threshold level of legal development has been attained. On the issue of sequencing, we find that trade openness is a prerequisite for capital account liberalization while banking system development is a precondition for equity market development.

مقدمه انگلیسی

Recent years have witnessed a surge of interest in issues surrounding globalization, including financial globalization. A series of financial crises in the 1990s rekindled the debates on the effects of removing capital controls, which led many observers to reconsider gains and pains of financial liberalization (Kaminsky and Schmukler, 2001a, Kaminsky and Schmukler, 2001b, Kaminsky and Schmukler, 2002 and Schmukler, 2003).1

نتیجه گیری انگلیسی

We began our empirical investigation by examining the nexus between capital account liberalization and financial development. Our key empirical results suggest that financial openness does contribute to equity market development, but only when a threshold level of general development of legal systems and institutions has been attained. Financial development–measured as activity of the stock market–appears to depend upon capital account openness both individually and in interaction with the level of legal development.33

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.