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Central bank independence and stock market returns in emerging economies
16 references·2 citing·36 second hop
Central bank independence and stock market returns in emerging economies (2011)Central bank independence and stock marke…When Does Policy Reform Work?: The Case of Central Bank Independence (2008)When Does Policy Reform Work?…When Does Policy Reform Work? The Case of Central Bank Independence (2008)When Does Policy Reform Work?…Central Bank Autonomy: Lessons from Global Trends (2007)Central Bank Autonomy: Lesson…Central Bank Autonomy (2007)Central Bank AutonomyGlobalization Pressures and the State: The Worldwide Spread of Central Bank Independence (2005)Globalization Pressures and t…Any Link Between Legal Central Bank Independence and Inflation? Evidence From Latin America and the Caribbean (2005)Any Link Between Legal Centra…UNEQUALLY SPACED PANEL DATA REGRESSIONS WITH AR(1) DISTURBANCES (1999)UNEQUALLY SPACED PANEL DATA R…Estimating dynamic panel data models: a guide for macroeconomists (1999)Estimating dynamic panel data…Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries (1998)Gatekeepers of Growth: The In…Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries (1998)Gatekeepers of Growth: The In…Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence (1993)Central Bank Independence and…Measuring the Independence of Central Banks and Its Effect on Policy Outcomes (1992)Measuring the Independence of…Central Bank Strategy, Credibility, and Independence: Theory and Evidence (1992)Central Bank Strategy, Credib…Some Unpleasant Monetarist Arithmetic (1984)Some Unpleasant Monetarist Ar…Some Unpleasant Monetarist Arithmetic (1981)Some Unpleasant Monetarist Ar…Asset returns and inflation (1977)Asset returns and inflationIndependence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021) (2021)Independence, conservatism, a…Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis (2020)Impact of central bank indepe…The Optimal Degree of Commitment to an Intermediate Monetary Target (1985)An Introduction to Varieties of Capitalism (2001)Varieties of Capitalism (2001)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Initial conditions and moment restrictions in dynamic panel data models (1995)Initial conditions and moment restrictions in dynamic panel data models (1998)Bank-specific, industry-specific and macroeconomic determinants of bank profitability (2006)Growth Dynamics: The Myth of Economic Recovery (2008)US Food Aid and Civil Conflict (2014)Institutionalized Organizations: Formal Structure as Myth and Ceremony (1977)The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields (1983)The iron cage revisited institutional isomorphism and collective rationality in organizational fields (2004)Cultural Holes: Beyond Relationality in Social Networks and Culture (2010)Governance and Development* (2010)Transnational Diffusion: Norms, Ideas, and Policies (2013)Why Are Stabilizations Delayed?The monetary dynamics of hyperinflation (1956)Money and Economic Growth (1965)Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies (1991)The Role of Monetary Policy (1995)Presidential Address: Discount Rates (2011)Inflation and Economic Growth (1995)Veto Players. How Political Institutions Work (2003)Political Parties as Campaign Organizations (2002)The Consequences of Partisan Dealignment (2002)Variation in Institutional Strength (2009)Forecasting with panel data (2008)The Structure of Inequality and the Politics of Redistribution (2011)Testing Asymmetric-Information Asset Pricing Models (2012)Macroeconomics and Politics (1988)
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References

  • 1977Asset returns and inflation2,701 cited
  • 1999Estimating dynamic panel data models: a guide for macroeconomists2,126 cited
  • 1993Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence1,830 cited
  • 1981Some Unpleasant Monetarist Arithmetic1,723 cited
  • 1992Measuring the Independence of Central Banks and Its Effect on Policy Outcomes1,707 cited
  • 1984Some Unpleasant Monetarist Arithmetic1,486 cited
  • 1992Central Bank Strategy, Credibility, and Independence: Theory and Evidence1,366 cited
  • 1999UNEQUALLY SPACED PANEL DATA REGRESSIONS WITH AR(1) DISTURBANCES965 cited
  • 2005Globalization Pressures and the State: The Worldwide Spread of Central Bank Independence412 cited
  • 1998Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries327 cited
  • 2007Central Bank Autonomy: Lessons from Global Trends313 cited
  • 2008When Does Policy Reform Work? The Case of Central Bank Independence274 cited
  • 1998Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries218 cited
  • 2008When Does Policy Reform Work?: The Case of Central Bank Independence139 cited
  • 2005Any Link Between Legal Central Bank Independence and Inflation? Evidence From Latin America and the Caribbean

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66 cited
  • 2007Central Bank Autonomy52 cited
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    • 2020Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis27 cited
    • 2021Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)19 cited