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https://doi.org/10.21256/zhaw-22615| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | The impact of institutional volatility on financial volatility in transition economies |
| Autor/-in: | Hartwell, Christopher A. |
| et. al: | No |
| DOI: | 10.1016/j.jce.2017.11.002 10.21256/zhaw-22615 |
| Erschienen in: | Journal of Comparative Economics |
| Band(Heft): | 46 |
| Heft: | 2 |
| Seite(n): | 598 |
| Seiten bis: | 615 |
| Erscheinungsdatum: | 2018 |
| Verlag / Hrsg. Institution: | Elsevier |
| ISSN: | 0147-5967 1095-7227 |
| Sprache: | Englisch |
| Schlagwörter: | Financial sector; GARCH; Institution; Property right |
| Fachgebiet (DDC): | 332: Finanzwirtschaft |
| Zusammenfassung: | What have been the determinants of financial volatility in the transition countries of Central and Eastern Europe and the former Soviet Union? This paper posits that institutional changes, and in particular the volatility of crucial institutions such as property rights, have been the major causes of financial volatility in transition. Building a unique monthly database of 20 transition economies from 1991 to 2017, this paper applies the GARCH family of models to examine financial volatility as a function of institutional volatility. The results show that more advanced institutions help to dampen financial sector volatility, while institutional volatility feeds through directly to financial sector volatility in transition. Democratic changes in particular engender much higher levels of volatility, while property rights are sensitive to the metric used for their measurement. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/22615 |
| Volltext Version: | Akzeptierte Version |
| Lizenz (gemäss Verlagsvertrag): | CC BY-NC-ND 4.0: Namensnennung - Nicht kommerziell - Keine Bearbeitungen 4.0 International |
| Departement: | School of Management and Law |
| Organisationseinheit: | International Management Institute (IMI) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
Dateien zu dieser Ressource:
| Datei | Beschreibung | Größe | Format | |
|---|---|---|---|---|
| 2018_Hartwell_Institutional-financial-volatility-transition-economies.pdf | Accepted Version | 1.2 MB | Adobe PDF |  Öffnen/Anzeigen |
Zur Langanzeige
Hartwell, C. A. (2018). The impact of institutional volatility on financial volatility in transition economies. Journal of Comparative Economics, 46(2), 598–615. https://doi.org/10.1016/j.jce.2017.11.002
Hartwell, C.A. (2018) ‘The impact of institutional volatility on financial volatility in transition economies’, Journal of Comparative Economics, 46(2), pp. 598–615. Available at: https://doi.org/10.1016/j.jce.2017.11.002.
C. A. Hartwell, “The impact of institutional volatility on financial volatility in transition economies,” Journal of Comparative Economics, vol. 46, no. 2, pp. 598–615, 2018, doi: 10.1016/j.jce.2017.11.002.
HARTWELL, Christopher A., 2018. The impact of institutional volatility on financial volatility in transition economies. Journal of Comparative Economics. 2018. Bd. 46, Nr. 2, S. 598–615. DOI 10.1016/j.jce.2017.11.002
Hartwell, Christopher A. 2018. “The Impact of Institutional Volatility on Financial Volatility in Transition Economies.” Journal of Comparative Economics 46 (2): 598–615. https://doi.org/10.1016/j.jce.2017.11.002.
Hartwell, Christopher A. “The Impact of Institutional Volatility on Financial Volatility in Transition Economies.” Journal of Comparative Economics, vol. 46, no. 2, 2018, pp. 598–615, https://doi.org/10.1016/j.jce.2017.11.002.
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