If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies

Hartwell, Christopher A.

doi:10.1080/1540496X.2016.1180284

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies
Authors:	Hartwell, Christopher A.
et. al:	No
DOI:	10.1080/1540496X.2016.1180284
Published in:	Emerging Markets Finance and Trade
Volume(Issue):	53
Issue:	2
Page(s):	250
Pages to:	275
Issue Date:	2016
Publisher / Ed. Institution:	Taylor & Francis
ISSN:	1540-496X 1558-0938
Language:	English
Subjects:	Banking crisis; Financial liberalization; Institution; Nonlinearity
Subject (DDC):	332: Financial economics
Abstract:	Did increasing the level and pace of financial liberalization during transition expose countries to crises? And if a crisis did strike, did liberalization do more harm or good? Using a database of 28 transition economies over 22 years, this article examines these questions across a host of economic outcomes, including savings and the size of the private sector. The results provide evidence that, while liberalization may initially increase the probability of a crisis, the prospect of a crisis drops dramatically at higher levels of financial openness. Moreover, the benefits of liberalization across several metrics outweigh the risks of these intermediate stages.
URI:	https://digitalcollection.zhaw.ch/handle/11475/22672
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	International Management Institute (IMI)
Appears in collections:	Publikationen School of Management and Law

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Hartwell, C. A. (2016). If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies. Emerging Markets Finance and Trade, 53(2), 250–275. https://doi.org/10.1080/1540496X.2016.1180284

Hartwell, C.A. (2016) ‘If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies’, Emerging Markets Finance and Trade, 53(2), pp. 250–275. Available at: https://doi.org/10.1080/1540496X.2016.1180284.

C. A. Hartwell, “If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies,” Emerging Markets Finance and Trade, vol. 53, no. 2, pp. 250–275, 2016, doi: 10.1080/1540496X.2016.1180284.

HARTWELL, Christopher A., 2016. If you’re going through hell, keep going : nonlinear effects of financial liberalization in transition economies. Emerging Markets Finance and Trade. 2016. Bd. 53, Nr. 2, S. 250–275. DOI 10.1080/1540496X.2016.1180284

Hartwell, Christopher A. 2016. “If You’re Going through Hell, Keep Going : Nonlinear Effects of Financial Liberalization in Transition Economies.” Emerging Markets Finance and Trade 53 (2): 250–75. https://doi.org/10.1080/1540496X.2016.1180284.

Hartwell, Christopher A. “If You’re Going through Hell, Keep Going : Nonlinear Effects of Financial Liberalization in Transition Economies.” Emerging Markets Finance and Trade, vol. 53, no. 2, 2016, pp. 250–75, https://doi.org/10.1080/1540496X.2016.1180284.