in The Review of Financial Studies
November 2009; p ublished online February 2009 .
Journal Article. Subjects: Prices, Business Fluctuations, and Cycles; International Finance; Macroeconomic Aspects of International Trade and Finance; International Financial Markets; Financial Regulation. 15689 words.
We investigate the effect of a stock market liberalization on industry growth in emerging markets. Consistent with the view that liberalization reduces financing constraints, we find that...