Equity Market Liberalization in Emerging Markets
梳理了新兴市场股票自由化的现有研究方法，并展示了自由化对实体经济的影响，帮助研究者判断自由化政策的有效性。
Abstract Equity market liberalizations, if effective, lead to important changes in both the financial and real sectors as the economy becomes integrated into world capital markets. The study of market integration is complicated because one can liberalize in many ways and many countries have taken different routes. To study the effectiveness of particular liberalization policies, the sequencing of liberalizations, and the impact on the real economy, systematic methods must be developed to date the liberalization of emerging equity markets. We provide a synthesis of the current methods and show the impact of liberalization on the real sector.