The Value of Institutions for Financial Markets : Evidence from Emerging Markets /

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This paper investigates the value of political institutions for financial markets, using panel data from emerging market countries. We test the hypothesis that changes in political institutions, such as improvements in democratic rights and increased government accountability, have a direct effect o...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Stratmann, Thomas
Autor Corporativo: International Monetary Fund
Otros Autores: Akitoby, Bernardin
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2009.
Colección:IMF Working Papers ; Working Paper no. 09/27.
Temas:
Fiscal policy > Econometric models.
Capital market.
Politique fiscale > Modèles économétriques.
Marché financier.
Capital market
Fiscal policy > Econometric models
Acceso en línea:Texto completo
Tabla de Contenidos:
  • I. Introduction; II. Analytical Framework; A. The Empirical Model; B. Testing the Impact of Institutions on Spreads; III. Empirical Strategy for Fiscal Policy Variables; IV. Data Description and Results; A. Data Description; B. Results; Tables; 1. Means and Standard Deviations; 2. Effects of Institutions on Spreads-OLS Estimates (Baseline); 3. Effects of Institutions on Spreads-Fixed Effects Estimates (Baseline); 4. Effects of Institutions on Spreads in the Presence of Fiscal Variables-OLS Estimates.
  • 5. Effects of Institutions on Spreads in the Presence of Fiscal Variables-Fixed Effects EstimatesC. Sensitivity and Robustness; V. Conclusions; Appendix Table; A1: List of Countries Included; References.

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