The Value of Institutions for Financial Markets; Evidence From Emerging Markets

Preprint OPEN
Thomas Stratmann; Bernardin Akitoby;
  • Subject: Cross country analysis;Capital markets;Economic models;Emerging markets;Financial markets;Financial sector;Governance;Sovereign risk;Social policy;Political economy;spreads, institutions, fiscal variables, political institutions, fiscal policy, political rights, democratic accountability,

This paper investigates the value of political institutions for financial markets, using panel data from emerging market countries. We test the hypothesis that changes in political institutions, such as improvements in democratic rights and increased government accounta... View more
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