Economics, Econometrics and Finance
4 years ago

Political institutions impact financial markets in emerging economies, affecting interest rates.

SSRN Electronic Journal
The Value of Institutions for Financial Markets: Evidence from Emerging Markets
Thomas Stratmann, Bernardin Akitoby

Paper Summary

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The value of political institutions affects financial markets in emerging countries. Improvements in democracy and government accountability can lower interest rates, while political risk tends to increase them. Financial markets generally view election years negatively.