STOCK MARKET DEVELOPMENT AND CROSS-COUNTRY DIFFERENCES IN RELATIVE PRICES

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dc.contributor.authorLarrain, Borja
dc.date.accessioned2024-01-10T12:08:50Z
dc.date.available2024-01-10T12:08:50Z
dc.date.issued2010
dc.description.abstractWe document a positive correlation between stock market capitalization and price levels (wages) within the group of countries with poorly developed stock markets and a negative correlation between these two variables within the group of countries with more developed stock markets. This paper argues that there is a causal relationship behind these correlations. Stock markets initially stimulate growth, pushing the demand for nontradables and increasing prices and wages. Stock markets also promote a shift toward more capital-intensive technologies in the tradable sector, increasing the migration of workers to services and eventually putting downward pressure on wages and prices.
dc.fechaingreso.objetodigital2024-05-20
dc.format.extent14 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1162/REST_a_00030
dc.identifier.eissn1530-9142
dc.identifier.issn0034-6535
dc.identifier.urihttps://doi.org/10.1162/REST_a_00030
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76432
dc.identifier.wosidWOS:000283902700007
dc.information.autorucEscuela de Administración;Larrain B;S/I;1815
dc.issue.numero4
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final797
dc.pagina.inicio784
dc.publisherMIT PRESS
dc.revistaREVIEW OF ECONOMICS AND STATISTICS
dc.rightsacceso restringido
dc.subjectFOREIGN-ASSETS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectPOLITICAL-ECONOMY
dc.subjectEXTERNAL WEALTH
dc.subjectDETERMINANTS
dc.subjectLIABILITIES
dc.subjectINDUSTRIAL
dc.subjectNATIONS
dc.subjectTRADE
dc.subject.ods10 Reduced Inequality
dc.subject.ods01 No Poverty
dc.subject.ods08 Decent Work and Economic Growth
dc.subject.odspa10 Reducción de las desigualdades
dc.subject.odspa01 Fin de la pobreza
dc.subject.odspa08 Trabajo decente y crecimiento económico
dc.titleSTOCK MARKET DEVELOPMENT AND CROSS-COUNTRY DIFFERENCES IN RELATIVE PRICES
dc.typeartículo
dc.volumen92
sipa.codpersvinculados1815
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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