Assessing the Growth Effect of Financial Liberalization in the Presence of Financial Crises: A Case Study of Tiger Cub Economies
學年 107
學期 2
出版（發表）日期 2019-06-01
作品名稱 Assessing the Growth Effect of Financial Liberalization in the Presence of Financial Crises: A Case Study of Tiger Cub Economies
作品名稱（其他語言）
著者 Pei-Chien Lin; Claire Y. C. Liang
單位
出版者
著錄名稱、卷期、頁數 The Developing Economies 57(2), p.159-193
摘要 By applying a recently developed econometric technique, the synthetic control method (SCM), this paper empirically assesses the growth effect of financial liberalization in the presence of financial crises for the so-called Tiger Cub economies over the period from 1975 to 2002. The outcomes of the SCM analyses show that financial liberalization exerted a significant growth effect in Indonesia, Malaysia, and Thailand before the outbreak of the 1997 East Asian financial crisis, while no such growth effect was found for the Philippines for the entire study period. Moreover, after the outbreak of the financial crisis, the growth effects of financial liberalization for Malaysia and Thailand remained significantly higher than those for their synthetic counterparts. However, the growth effect of financial liberalization was not that sturdy in the case of Indonesia following the crisis.
關鍵字 Financial liberalization; Growth; Financial crisis; Synthetic control method; Tiger Cub economies
語言 en_US
ISSN
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者
審稿制度 是
國別 JPN
公開徵稿
出版型式 ,電子版
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