The political economy of financial reform: How robust are huang's findings?
使用1975-2005年62国数据，检验黄(2009)关于金融自由化驱动因素的研究，发现民主和人均收入的影响并不稳健。
SUMMARY Using new data on financial liberalization taken from Abiad et al . (2008, IMF Working Papers, No. 08/266) for 62 countries over the period 1975–2005, we show that some of the main findings of Huang's (2009, Journal of Applied Econometrics 24 : 1207–1213) replication study on the drivers of financial liberalization are not robust. Major changes concern the effect of democracy on financial reform and the supposed relationship between the desired level of financial liberalization and a country's per capita income. Copyright © 2012 John Wiley & Sons, Ltd.