CoChat
Sign Up
Cited by 127Finance, Markets, and RegulationGlobal Financial Crisis and PoliciesFinancial Markets and Investment Strategies

The DOI matches its Crossref record; the references it cites are not checked yet.

Stock market development and internationalization: Do economic fundamentals spur both similarly?

Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio L.·2006·Journal of Empirical Finance
DOI 10.1016/j.jempfin.2006.03.002
Open this paper in CoChat — free account

Overview

Integrity signals

Registry

Crossref · 10.1016/j.jempfin.2006.03.002

Cites

Statistics

Recomputing p-values needs the paper’s full text.

Verification

Claims the paper makes

We couldn’t retrieve this paper’s full text, so its claims and self-check weren’t run. The registry and citation checks still apply.

Claims other papers make about this one

Each is checked against this paper’s own text: does it say what the citing paper says it does?

  • The World Bank income level categorization of market maturity is consistent with previous experiments.

    “This approach to categorization is consistent with previous experiments (Choong, Baharumshah, Yusop, & Habibullah, 2010; Claessens, Klingebiel, & Schmukler, 2006).”

    From Bridging the divide in financial market forecasting: machine learners vs. financial economists (2016) · cites this paper as Claessens, Klingebiel, & Schmukler, 2006

Citations

The citation lists haven’t been fetched yet

References 74 · Cited by 127

Research works printed but not linked: 35

  1. Bekaert, 2000, Foreign speculators and emerging equity markets, Journal of Finance, 55, 565, 10.1111/0022-1082.00220 · DOI
  2. Bekaert, 2003, Emerging market finance, Journal of Empirical Finance, 10, 3, 10.1016/S0927-5398(02)00054-3 · DOI
  3. Bekaert, 2005, Does financial market liberalization spur growth?, Journal of Financial Economics, 77, 3, 10.1016/j.jfineco.2004.05.007 · DOI · Paper page
  4. Bekaert, G., Harvey, C.R., Lundblad, C., Siegel, S., in press. Global growth opportunities and market integration. Journal of Finance.
  5. Bencivenga, 1992, Deficits, inflation and the banking system in developing countries: the optimal degree of financial repression, Oxford Economic Papers, 44, 767, 10.1093/oxfordjournals.oep.a042074 · DOI
  6. Benos, 2004, Private benefits and cross-listings in the United States, Emerging Markets Review, 5, 217, 10.1016/j.ememar.2004.01.002 · DOI
  7. Boyd, 2001, The impact of inflation on financial sector performance, Journal of Monetary Economics, 47, 221, 10.1016/S0304-3932(01)00049-6 · DOI
  8. Coffee, 1999, The future as history: the prospects for global convergence in corporate governance and its implications, Northwestern Law Review, 93, 641
  9. Collier, 2000, Flight capital as portfolio choice, World Bank Economic Review, 15, 55, 10.1093/wber/15.1.55 · DOI
  10. Domowitz, 2001, Liquidity, volatility and equity trading costs across countries and over time, International Finance, 4, 221, 10.1111/1468-2362.00072 · DOI
  11. Edison, H., Warnock, F., 2003a. Cross-border listings, capital controls, and equity flows to emerging markets. International Finance Discussion Papers 2003-770, Federal Reserve Board. · DOI
  12. Edison, 2003, A simple measure of the intensity of capital controls, Journal of Empirical Finance, 10, 83, 10.1016/S0927-5398(02)00055-5 · DOI
  13. Grammig, 2005, Internationally cross-listed stock prices during overlapping trading hours: price discovery and exchange rate effects, Journal of Empirical Finance, 12, 139, 10.1016/j.jempfin.2003.10.004 · DOI
  14. Henry, 2000, Stock market liberalization, economic reform, and emerging market equity prices, Journal of Finance, 55, 529, 10.1111/0022-1082.00219 · DOI
  15. Huybens, 1999, Inflation, financial markets, and long-run real activity, Journal of Monetary Economics, 43, 283, 10.1016/S0304-3932(98)00060-9 · DOI
  16. Kaminsky, 2003, Short-run pain, long-run gain: the effects of financial liberalization, vol. 9787
  17. Karolyi, 2004, The role of American Depositary Receipts in the development of emerging equity markets, Review of Economics and Statistics, 86, 670, 10.1162/0034653041811699 · DOI
  18. Kim, 2000, Opening up of stock markets: lessons from emerging economies, Journal of Business, 73, 25, 10.1086/209631 · DOI
  19. La Porta, 1997, Legal determinants of external finance, Journal of Finance, 52, 1131, 10.2307/2329518 · DOI
  20. La Porta, 1998, Law and finance, Journal of Political Economy, 106, 1113, 10.1086/250042 · DOI · Paper page
  21. La Porta, 1999, The quality of government, Journal of Law, Economics and Organization, 15, 222, 10.1093/jleo/15.1.222 · DOI · Paper page
  22. La Porta, 2006, What works in securities laws?, Journal of Finance, 61, 1, 10.1111/j.1540-6261.2006.00828.x · DOI
  23. Levine, 1997, Financial development and economic growth: views and agenda, Journal of Economic Literature, 35, 688
  24. Levine, 1999, Law, finance, and economic growth, Journal of Financial Intermediation, 8, 8, 10.1006/jfin.1998.0255 · DOI · Paper page
  25. Levine, 2006, Internationalization and stock market liquidity, Review of Finance, 10, 153, 10.1007/s10679-006-6981-7 · DOI
  26. Levine, R., Schmukler, S., in press. Migration, spillovers, and trade diversion: the impact of internationalization on domestic stock market liquidity. Journal of Banking Finance.
  27. Levine, 1998, Capital control liberalization and stock market development, World Development, 1169, 10.1016/S0305-750X(98)00046-1 · DOI · Paper page
  28. Levy-Yeyati, E., Schmukler, S., van Horen, N., 2006. International financial integration through the law of one price. World Bank Policy Research Working Paper 3897. · DOI
  29. Licht, 2003, Cross-listing and corporate governance: bonding or avoiding?, Chicago Journal of International Law, 4, 141
  30. Moel, 2001, The role of American Depositary Receipts in the development of emerging markets, Economia, 2, 209
  31. Rajan, 2003, The great reversals: the politics of financial development in the twentieth century, Journal of Financial Economics, 69, 5, 10.1016/S0304-405X(03)00125-9 · DOI · Paper page
  32. Reese, 2002, Protection of minority shareholder interests, cross-listing in the United States, and subsequent equity offerings, Journal of Financial Economics, 66, 65, 10.1016/S0304-405X(02)00151-4 · DOI
  33. Ritter, 2002, A review of IPO activity, pricing, and allocations, Journal of Finance, 57, 1795, 10.1111/1540-6261.00478 · DOI
  34. Siegel, 2005, Can foreign firms bond themselves effectively by renting U.S. securities laws?, Journal of Financial Economics, 75, 319, 10.1016/j.jfineco.2004.02.001 · DOI
  35. Stulz, 2005, The limits of financial globalization, Journal of Finance, 60, 1595, 10.1111/j.1540-6261.2005.00775.x · DOI

Metadata

Authors
Claessens, S., Klingebiel, D., & Schmukler, S. L.
Affiliations
World Bank (US)
Corresponding author
Schmukler, Sergio L.
ORCID
Venue
Journal of Empirical Finance
Publisher
Elsevier BV
Published
2006-06
Volume
13
Issue
3
Pages
316-350
ISSN
0927-5398 (ISSN-L)
DOI
10.1016/j.jempfin.2006.03.002
OpenAlex
W1981098423
Cited by
127
References
74
Citations by year
2026: 2 · 2025: 4 · 2024: 3 · 2023: 7 · 2022: 6 · 2021: 4 · 2020: 4 · 2019: 3 · 2018: 5 · 2017: 2 · 2016: 9 · 2015: 3 · 2014: 4 · 2013: 4 · 2012: 11
FWCI
19.28
Type
journal article
Language
en
Open access
closed
Licence
www.elsevier.com/tdm/userlicense/1.0/ (tdm)
Locations
  • Journal of Empirical Finance (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Finance, Markets, and Regulation
  • Social Sciences › Economics, Econometrics and Finance › Finance › Global Financial Crisis and Policies
  • Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
Keywords
stock market development, economic fundamentals, cross-listing, capital raising, macroeconomic policy, legal system efficiency, trade openness, growth opportunities, market liquidity, internationalization of firms

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review