Arbeitspapier
Did Globalization Influence Credit Market Deregulation
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted trade openness as an instrumental variable and show that this approach gives rise to different conclusions. Two-stage least squares estimations do not show that globalization had a causal influence on credit market deregulation.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 5374
- Classification
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Wirtschaft
Economic Impacts of Globalization: Finance
Economic Impacts of Globalization: Policy
General Financial Markets: Government Policy and Regulation
Financial Institutions and Services: Government Policy and Regulation
International Policy Coordination and Transmission
Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation
- Subject
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globalization
credit market deregulation
instrumental variables
- Event
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Geistige Schöpfung
- (who)
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Eppinger, Peter
Potrafke, Niklas
- Event
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Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
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2015
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Eppinger, Peter
- Potrafke, Niklas
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2015
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