Published in:University of Alberta School of Business Research Paper ; No. 2019-503
Extent:
1 Online-Ressource (33 p)
Language:
English
DOI:
10.2139/ssrn.3336178
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 7, 2019 erstellt
Description:
Major moves in Colombia's stock market in the 2000s correspond to major news of progress or setbacks in rebuilding the country's institutions, shattered by widespread guerrilla insurgencies in the 1990s. This contrasts with prior work reporting no news on major market moves in the US, a country with comparatively stable institutions. Colombian economy-level news during the institutional rebuilding phase may have been exceptionally economically significant. This suggests that stock market moves might usefully gauge the importance of institutional changes in other developing economies