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Napoleon, Bourses, and Growth in Latin America

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  • Ross Levine

Abstract

The value of equity market transactions in emerging economies soared from about 2 percent of the world total in 1986 to 12 percent in 1996. This boom was accompanied by an explosion of international capital flows, especially flows into developing country stock markets. Moreover, while equity flows were a negligible part of capital flows to emerging markets a decade ago, equity flows now represent about 20 percent of private capital flows to developing nations.

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Bibliographic Info

Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4106.

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Date of creation: Oct 1997
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Handle: RePEc:idb:wpaper:4106

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  9. Catherine Bonser-Neal & Kathryn L. Dewenter, 1996. "Does financial market development stimulate savings? Evidence from emerging market stock markets," Research Working Paper 96-09, Federal Reserve Bank of Kansas City.
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  24. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
  25. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December.
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