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Marshall Stocker (2005)
EQUITY RETURNS AND ECONOMIC FREEDOMCato Journal, 25
R. Porta, Florencio Silanes, Andrei Shleifer, Robert Vishny (1997)
Legal Determinants of External FinanceCapital Markets eJournal
Kai Li (2002)
What Explains the Growth of Global Equity Markets
J. Ritter (2004)
Economic Growth and Equity ReturnsCapital Markets: Asset Pricing & Valuation eJournal
Rafael Porta, Florencio López‐de‐Silanes, Andrei Shleifer, Robert Vishny (1996)
Law and FinanceJournal of Political Economy, 106
Marshall Stocker (2006)
The Rosetta Stone of Development Economics: Economic Freedom and How Much Money You Can Make from It, 58
Purpose – The purpose of this paper is to investigate the relationships between the Index of Economic Freedom , equity market performance and its volatility. Design/methodology/approach – The paper examines whether the level of economic freedom is significant for a country's stock market performance and volatiling. Findings – Regression results show that adjusted stock returns bear little relationship with economic freedom. On the other hand, economic freedom is associated with lower stock market volatility. Originality/value – The results imply that a country with greater economic freedom provides investors with better mean‐variance investment efficiency.
International Journal of Accounting and Information Management – Emerald Publishing
Published: Oct 23, 2009
Keywords: Economics; Freedom; Stock returns; Stock markets
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