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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/26417

Title: Financial markets’ shutdown and re-access
Authors: Agnello, Luca
Castro, Vitor
Sousa, Ricardo M.
Keywords: Financial markets’ shutdown
Financial markets’ re-access
Parametric duration model
Issue Date: 2017
Publisher: Wiley © Western Economic Association International
Citation: AGNELLO, L., CASTRO, V. and SOUSA, R.M., 2017. Financial markets’ shutdown and re-access. Economic Inquiry, 56 (1), pp. 562–571.
Abstract: We employ a discrete-time parametric duration model on a group of 121 countries over the period 1970-2011 and find that the probability of the end of financial markets’ shutdown and re-access falls as these events become longer. We also show that: (i) shutdown episodes are longer when economic prospects are poor and the degree of financial openness falls, the chief executive has been in office for long periods, and the country has a default history; and (ii) spells of re-access tend to be longer when economic growth improves and financial openness increases, there are neither government crises nor government instability, and the country did not default in the past.
Description: This paper is closed access until 1st November 2019.
Sponsor: Castro and Sousa acknowledge that this work was carried out within the funding with COMPETE reference nº POCI-01-0145-FEDER-006683, with the FCT/MEC's (Fundacao para a Ciencia e Tecnologia, I.P.) financial support through national funding and by the ERDF through the Operational Programme on "Competitiveness and Internationalization - COMPETE 2020" under the PT2020 Partnership Agreement.
Version: Accepted for publication
DOI: 10.1111/ecin.12518
URI: https://dspace.lboro.ac.uk/2134/26417
Publisher Link: https://doi.org/10.1111/ecin.12518
ISSN: 0095-2583
Appears in Collections:Closed Access (Economics)

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