FINANCIAL MARKETS' SHUTDOWN AND REACCESS

Luca Agnello, Ricardo M. Sousa, Vítor Castro

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4 Citazioni (Scopus)

Abstract

We employ a discrete-time parametric duration model on a group of 121 countries over the period 1970â2011 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).
Lingua originaleEnglish
pagine (da-a)562-571
Numero di pagine10
RivistaEconomic Inquiry
Volume56
Stato di pubblicazionePublished - 2018

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All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Economics and Econometrics

Cita questo

Agnello, L., Sousa, R. M., & Castro, V. (2018). FINANCIAL MARKETS' SHUTDOWN AND REACCESS. Economic Inquiry, 56, 562-571.