Market Freedom and the Global Recession
Federal Reserve Banks - Federal Reserve Bank of New York; Centre for Economic Policy Research (CEPR); LUISS Guido Carli University
European Central Bank (ECB)
London Business School; Université Libre de Bruxelles (ULB) - European Center for Advanced Research in Economics and Statistics (ECARES); Centre for Economic Policy Research (CEPR); European Central Bank (ECB)
May 1, 2010
ECGI - Finance Working Paper No. 288/2010
In this study we find that the set of policies that favour liberalization in credit markets (regulatory quality) are negatively correlated with countries’ resilience to the recent recession as measured by output growth in 2008 and 2009.
Number of Pages in PDF File: 29
Keywords: Market freedom, Recession, Financial Crisis
JEL Classification: E02, E65
Date posted: June 18, 2010
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