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Market freedom and the global recession

Author

Listed:
  • Giannone, Domenico
  • Lenza, Michele
  • Reichlin, Lucrezia

Abstract

In this study we find that the set of policies that favor liberalization in credit markets (regulatory quality) are negatively correlated with countries’ resilience to the recent recession as measured by output growth in 2008 and 2009.

Suggested Citation

  • Giannone, Domenico & Lenza, Michele & Reichlin, Lucrezia, 2010. "Market freedom and the global recession," CEPR Discussion Papers 7884, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:7884
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    More about this item

    Keywords

    Financial Crisis; Market freedom; Recession;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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