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The Role of Financial Liberalization...

Wang, Zhi.

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The Role of Financial Liberalization in Consumption Booms.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The Role of Financial Liberalization in Consumption Booms./
Author:	Wang, Zhi.
Description:	54 p.
Notes:	Source: Masters Abstracts International, Volume: 52-06.
Contained By:	Masters Abstracts International52-06(E).
Subject:	Economics, Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1555174
ISBN:	9781303869792

The Role of Financial Liberalization in Consumption Booms.
Wang, Zhi.

The Role of Financial Liberalization in Consumption Booms. - 54 p.

Source: Masters Abstracts International, Volume: 52-06.

Thesis (M.P.P.)--Georgetown University, 2014.

Consumption booms, defined as unusual upsurge in a country's real private consumption expenditures, are often perceived as dangerous macroeconomic events because of their detrimental effects on home goods prices, the balance of trade, and the resources available for investment. Using a large cross-country panel data set from 1973-2005, this paper assesses how financial liberalization explains the occurrence of consumption booms. There are two key findings: First, while financial liberalization is not responsible for triggering all the consumption booms across the sample, the booms have indeed arisen more readily in the circumstances of financial reform, particularly the liberalization of the capital account, holding other factors constant. Second, the correlation between the probability of booms occurring and financial openness is non-linear. As many emerging economies like India and China are considering fully liberalizing their financial markets, these countries need to be particularly cautious about potential consumption booms that might jeopardize the macroeconomic stability.

ISBN: 9781303869792Subjects--Topical Terms:

626650
Economics, Finance.

The Role of Financial Liberalization in Consumption Booms.
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020 $a 9781303869792
035 $a (MiAaPQ)AAI1555174
035 $a AAI1555174
040 $a MiAaPQ $c MiAaPQ
100 1 $a Wang, Zhi. $3 1900689
245 1 4 $a The Role of Financial Liberalization in Consumption Booms.
300 $a 54 p.
500 $a Source: Masters Abstracts International, Volume: 52-06.
500 $a Adviser: Andreas Kern.
502 $a Thesis (M.P.P.)--Georgetown University, 2014.
520 $a Consumption booms, defined as unusual upsurge in a country's real private consumption expenditures, are often perceived as dangerous macroeconomic events because of their detrimental effects on home goods prices, the balance of trade, and the resources available for investment. Using a large cross-country panel data set from 1973-2005, this paper assesses how financial liberalization explains the occurrence of consumption booms. There are two key findings: First, while financial liberalization is not responsible for triggering all the consumption booms across the sample, the booms have indeed arisen more readily in the circumstances of financial reform, particularly the liberalization of the capital account, holding other factors constant. Second, the correlation between the probability of booms occurring and financial openness is non-linear. As many emerging economies like India and China are considering fully liberalizing their financial markets, these countries need to be particularly cautious about potential consumption booms that might jeopardize the macroeconomic stability.
590 $a School code: 0076.
650 4 $a Economics, Finance. $3 626650
650 4 $a Sociology, Public and Social Welfare. $3 1017909
690 $a 0508
690 $a 0630
710 2 $a Georgetown University. $b Public Policy and Policy Management. $3 2098238
773 0 $t Masters Abstracts International $g 52-06(E).
790 $a 0076
791 $a M.P.P.
792 $a 2014
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1555174