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Trade liberalization and the politics of financial development

Using a sample of 41 trade liberalizers the authors conduct an event study and show that the change in the strength of promoters vis-a-vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular.

Link http://www-wds.worldbank.…64258546&theSitePK=523679
Author Braun, M., Raddatz, C.
Date 01-Feb-2005
Institute World Bank
Tags finance, industry, trade, liberalization

See also

  1. Bulgaria's institutions and policies : integrating into Pan-European markets
  2. Belarus - Window of opportunity to enhance competitiveness and sustain economic growth - a Country Economic Memorandum (CEM) for the Republic of Belarus (Vol. 1 of 2)
  3. Financial crisis in Moldova: causes and consequences
  4. Eurasian Journal of Business and Economics
  5. Caucasus & Central Asia (CCA) Review - September 2008

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