Central bank independence and stock market returns in emerging economies

被引：14

作者：

Foerch, Thomas ^{[1
]}

Sunde, Uwe ^{[1
]}

机构：

[1] Univ St Gallen, CEPR, St Gallen, Switzerland

来源：

ECONOMICS LETTERS | 2012年 / 115卷 / 01期

关键词：

Central bank independence; Stock market returns; Emerging Economies; CARE;

D O I：

10.1016/j.econlet.2011.11.030

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate the effect of central bank independence on stock market returns in emerging economies. We find evidence for a positive overall effect, but economic independence of the central bank appears to be more relevant than political independence. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：77 / 80

页数：4

共 15 条

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Acemoglu D, 2008, BROOKINGS PAP ECO AC, P351

[2] CENTRAL BANK INDEPENDENCE AND MACROECONOMIC PERFORMANCE - SOME COMPARATIVE EVIDENCE [J].