Advanced Search
MyIDEAS: Login

EU Finance Ministers, Capital Markets and Fiscal Outcomes

Contents:

Author Info

  • António Afonso
  • Maria João Guedes

Abstract

We investigate the relevance of the characteristics of Ministers of Finance as an influence on the development of stock returns, sovereign yields and fiscal outcomes, which result from the implementation of their fiscal policies. For a panel of 27 EU countries, covering the period of 1980-2012, we find that academic background, tenure and gender, play a role in determining stock and bond market returns, as well as the general fiscal position of governments.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp012014.pdf
Download Restriction: no

Bibliographic Info

Paper provided by ISEG - School of Economics and Management, Department of Economics, University of Lisbon in its series Working Papers Department of Economics with number 2014/01.

as in new window
Length:
Date of creation: Jan 2014
Date of revision:
Handle: RePEc:ise:isegwp:wp012014

Contact details of provider:
Postal: Department of Economics, ISEG - School of Economics and Management, University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: https://aquila1.iseg.ulisboa.pt/aquila/departamentos/EC

Related research

Keywords: finance minister; stock returns; sovereign yields; budget balance;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Bertocchi, Graziella, 2007. "The Enfranchisement of Women and the Welfare State," IZA Discussion Papers 2922, Institute for the Study of Labor (IZA).
  2. Jürgen von Hagen, 2002. "Fiscal Rules, Fiscal Institutions, and Fiscal Performance," The Economic and Social Review, Economic and Social Studies, vol. 33(3), pages 263-284.
  3. Dreher, Axel & Lamla, Michael J. & Lein, Sarah M. & Somogyi, Frank, 2009. "The impact of political leaders' profession and education on reforms," Journal of Comparative Economics, Elsevier, vol. 37(1), pages 169-193, March.
  4. Svaleryd, Helena, 2009. "Women's representation and public spending," European Journal of Political Economy, Elsevier, vol. 25(2), pages 186-198, June.
  5. Jose Tavares, 2000. "Does Right or Left Matter? Cabinets, Credibility and Fiscal Adjustments," Econometric Society World Congress 2000 Contributed Papers 1548, Econometric Society.
  6. Etienne Farvaque & Hakim Hammadou & Piotr Stanek, 2011. "Selecting Your Inflation Targeters: Background and Performance of Monetary Policy Committee Members," German Economic Review, Verein für Socialpolitik, vol. 12(2), pages 223-238, 05.
  7. Clots-Figueras, Irma, 2011. "Women in politics: Evidence from the Indian States," Journal of Public Economics, Elsevier, vol. 95(7-8), pages 664-690, August.
  8. Audinga Baltrunaite & Piera Bello & Alessandra Casarico & Paola Profeta, 2013. "Gender quotas and the quality of politicians," Working Papers 2013-11, FEDEA.
  9. Nelson, James, 2005. "Corporate governance practices, CEO characteristics and firm performance," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 197-228, March.
  10. Etienne Farvaque & Hakim Hammadou & Piotr Stanek, 2009. "Select your Committee: the Impact of Central Bankers Background on Inflation," Economie Internationale, CEPII research center, issue 117, pages 99-129.
  11. de Haan, Jakob & Sturm, Jan-Egbert, 1997. "Political and economic determinants of OECD budget deficits and government expenditures: A reinvestigation," European Journal of Political Economy, Elsevier, vol. 13(4), pages 739-750, December.
  12. Beate R. Jochimsen & Sebastian Thomasius, 2012. "The Perfect Finance Minister: Whom to Appoint as Finance Minister to Balance the Budget?," Discussion Papers of DIW Berlin 1188, DIW Berlin, German Institute for Economic Research.
  13. Timothy Besley & Jose G. Montalvo & Marta Reynal‐Querol, 2011. "Do Educated Leaders Matter?," Economic Journal, Royal Economic Society, vol. 121(554), pages F205-, 08.
  14. Baskaran, Thushyanthan, 2012. "Ideology and fiscal policy: quasi-experimental evidence from the German States," Center for European, Governance and Economic Development Research Discussion Papers 144, University of Goettingen, Department of Economics.
  15. Adams, Renée B. & Ferreira, Daniel, 2009. "Women in the boardroom and their impact on governance and performance," Journal of Financial Economics, Elsevier, vol. 94(2), pages 291-309, November.
  16. Moessinger, Marc-Daniel, 2012. "Do personal characteristics of finance ministers affect the development of public debt?," ZEW Discussion Papers 12-068, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ise:isegwp:wp012014. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vitor Escaria).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.