Central bank independence and stock market returns in emerging economies
AbstractWe investigate the effect of central bank independence on stock market returns in emerging economies. We find evidence for a positive overall effect, but economic independence of the central bank appears to be more relevant than political independence.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 115 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/ecolet
Central bank independence; Stock market returns; Emerging Economies;
Find related papers by JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- G1 - Financial Economics - - General Financial Markets
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