Market freedom and the global recession

IMF Economic Review

Volumn 59, Issue 1, 2011, Pages 111-135

  Giannone, Domenico ^a   Lenza, Michele ^b   Reichlin, Lucrezia ^c  

^a UNIVERSITÉ LIBRE DE BRUXELLES   (Belgium)

^b EUROPEAN CENTRAL BANK   (Germany)

^c LONDON BUSINESS SCHOOL   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 79960252978     PISSN: 20414161     EISSN: None     Source Type: Journal    
DOI: 10.1057/imfer.2010.14     Document Type: Article

References (27)

1. Acemoglu, D., Johnson, S., and Robinson, J.A., 2005, "Institutions as a Fundamental Cause of Long-Run Growth," in Handbook of Economic Growth, Vol. 1, ed. by P. Aghion and S. Durlauf (Amsterdam, Elsevier), Chapter 6, pp. 385-472.
2. Beck, T., Demirguc-Kunt, A., and Levine, R., 1999, "A New Database on Financial Development and Structure," Policy Research Working Paper Series 2146 (The World Bank).
3. Beck, T., Demirguc-Kunt, A., and Levine, R., 2009, "Financial Institutions and Markets Across Countries and Over Time- Data and Analysis," Policy Research Working Paper Series 4943 (The World Bank).
4. Beck, T., Demirguc-Kunt, A., and Levine, R., Hesse, H., Kick, T., and von Westernhagen, N., 2009, "Bank Ownership and Stability: Evidence from Germany," Tilburg University, Unpublished manuscript.
5. Berglof, E., Korniyenko, Y., Plekhanov, A., and Zettelmeyer, J., 2009, "Understanding the Crisis in Emerging Europe," Working Paper series 109 (EBRD).
6. Blanchard, O., Faruqee, H., and Das, M., 2010, "The Initial Impact of the Crisis on Emerging Market Countries," Brooking Papers of Economic Activity, forthcoming.
7. Caprio, G.J., and Honohan, P., 2002, "Banking Policy and Macroeconomic Stability-an Exploration," Policy Research Working Paper Series 2856 (The World Bank).
8. Cetorelli, N., and Goldberg, L.S., 2010, "Globalized Banks: Lending to Emerging Markets in the Crisis," IMF Economic Review, Vol. 58, No. 2.
9. Diaz-Alejandro, C., 1985, "Good-bye Financial Repression, Hello Financial Crash," Journal of Development Economics, Vol. 19, pp. 1-24.
10. Easterly, W., Islam, R., and Stiglitz, G., 2000, "Shaken and Stirred: Explaining Growth Volatility," Discussion Paper (The World Bank).
11. Fernandez, C., Ley, E., and Steel, M.F.J., 2001, "Model Uncertainty in Cross-country Growth Regressions," Journal of Applied Econometrics, Vol. 16, No. 5, pp. 563-76.
12. Goldberg, L.S., 2009, "Understanding Banking Sector Globalization," IMF Staff Papers, Vol. 56, No. 1, pp. 171-97.
13. Gwartney, J., and Lawson, R., 2003a, "The Concept and Measurement of Economic Freedom," European Journal of Political Economy, Vol. 19, No. 3, pp. 405-30. (Pubitemid 36977314)
14. Gwartney, J., and Lawson, R., 2003b, "What Have We Learned from the Measurement of Economic Freedom?" Proceedings, Federal Reserve Bank of Dallas, (October), 217-38.
15. Hellmann, T., Murdock, K., and Stiglitz, J., 1997, "Financial Restraint: Towards a New Paradigm," in The Role of Government in East Asian Economic Development Comparative Institutional Analysis, ed. by M. Aoki, H.-K. Kim, and M. Okuno-Fujiwara (Oxford, Clarendon Press), pp. 163-207.
16. Imbs, J., 2010, "The First Global Recession in Decades," IMF Economic Review, Vol. 58, No. 2.
17. Kass, R.E., and Wasserman, L., 1996, "The Selection of Prior Distributions by Formal Rules," Journal of the American Statistical Association, Vol. 91, pp. 1343-70.
18. Kaufmann, D., Kraay, A., and Zoido-Lobaton, P., 2002, "Governance Matters II- Updated Indicators for 2000-01," Policy Research Working Paper Series 2772 (The World Bank).
19. Koop, G., 2003, Bayesian Econometrics (New York, John Wiley).
20. Lane, P.R., and Milesi-Ferretti, G.M., 2002, "External Wealth, the Trade Balance, and the Real Exchange Rate," European Economic Review, Vol. 46, No. 6, pp. 1049-71. (Pubitemid 34724842)
21. Lane, P.R., and Milesi-Ferretti, G.M., 2010, "The Cross-Country Incidence of the Global Crisis," IMF Economic Review, Vol. 58, No. 2.
22. Levine, R., 2005, "Finance and Growth: Theory and Evidence," in Handbook of Economic Growth, Vol. 1, ed. by P. Aghion and S. Durlauf (Amsterdam, Elsevier), Chapter 12, pp. 865-934.
23. Liang, F., Paulo, R., Molina, G., Clyde, M.A., and Berger, J.O., 2008, "Mixtures of Priors for Bayesian Variable Selection," Journal of the American Statistical Association, Vol. 103, pp. 410-23.
24. Rose, A.K., and Spiegel, M.M., 2009a, "Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning," NBER Working Papers 15357 (National Bureau of Economic Research, Inc).
25. Rose, A.K., and Spiegel, M.M., 2009b, "Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure," NBER Working Papers 15358 (National Bureau of Economic Research, Inc).
26. Sala-I-Martin, X., Doppelhofer, G., and Miller, R.I., 2004, "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach," American Economic Review, Vol. 94, No. 4, pp. 813-35. (Pubitemid 41110539)
27. Zeugner, S., and Feldkircher, M., 2009, "Benchmark Priors Revisited: On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging," IMF Working Papers 09/202 (International Monetary Fund).