Search results for "Financial openness"

showing 3 items of 3 documents

FINANCIAL MARKETS' SHUTDOWN AND REACCESS

2017

We employ a discrete-time parametric duration model on a group of 121 countries over the period 1970–2011 and find that the probability of the end of financial markets' shutdown and reaccess falls as these events become longer. We also show that: (1) shutdown episodes are longer when economic prospects are poor and the degree of financial openness falls, the chief executive has been in office for long periods, and the country has a default history and (2) spells of reaccess tend to be longer when economic growth improves and financial openness increases, there are neither government crises nor government instability, and the country did not default in the past. (JEL C41, G15)

MacroeconomicsEconomics and EconometricsGovernmentShutdown05 social sciencesFinancial market1. No povertyMonetary economicsGeneral Business Management and AccountingFinancial openness8. Economic growth0502 economics and businessEconomics050207 economicsDuration (project management)050205 econometrics Economic Inquiry
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Trade, financial openness and dual banking economies: Evidence from GCC Region

2021

Abstract The recent wave of liberalization in Gulf Cooperation Council (GCC) countries has opened up a debate on the role of Islamic finance in the financial development of an economy. Using a comprehensive dataset of 43 Islamic and 49 conventional banks for the period 2007–2015, in this paper, we investigate the impact of trade and financial openness on financial development in the GCC region. We find that trade and financial openness have a positive effect on the profitability of both banking systems, while the interaction term of openness is negative for the profitability of Islamic banks. Moreover, trade and financial openness affect Islamic banks differently than conventional banks. No…

040101 forestryEconomics and Econometrics050208 financeLiberalizationVDP::Social science: 200::Economics: 210Z-score05 social sciencesIslam04 agricultural and veterinary sciencesIslamic financeDual (category theory)Settore SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARITrade opennessFinancial opennessEconomyLoan0502 economics and businessOpenness to experienceFinancial openness0401 agriculture forestry and fisheriesProfitability indexBusinessIslamic banksDistance-to-defaultFinanceJournal of Multinational Financial Management
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Stock Market Integration and the Global Financial Crisis

2014

We study the dynamics of stock market integration and its consequences during the recent financial crisis for twenty-three developed and sixty emerging markets. We find that integration increased slightly for emerging markets but decreased for developed countries during the crisis. Moreover, we argue that the high degree of integration propagated the crisis across the global financial markets at the beginning of the crisis, but it had little effect during the crisis. We also find that integration is mostly affected by financial openness, the institutional environment, and global financial uncertainty but that these determinants vary slightly between emerging and developed markets.

rahoitusmarkkinatEconomics and Econometricsta511Financial marketFinancial systemtaloudelliset kriisitFinancial opennessAccountingFinancial crisisEconomicsStock marketEmerging marketsCapital marketFinanceReview of Finance
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