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Decomposing the Effects of Financial Liberalization: Crises vs. Growth / Romain Ranciere, Aaron Tornell, Frank Westermann.
- Format:
- Book
- Author/Creator:
- Ranciere, Romain.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w12806.
- NBER working paper series no. w12806
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Decomposing the Effects of Financial Liberalization
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2006.
- Summary:
- We present a new empirical decomposition of the effects of financial liberalization on economic growth and on the incidence of crises. Our empirical estimates show that the direct effect of financial liberalization on growth by far outweighs the indirect effect via a higher propensity to crisis. We also discuss several models of financial liberalization and growth whose predictions are consistent with our empirical findings.
- Notes:
- Print version record
- December 2006.
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