Name: Institutions and return predictability in oil-exporting countries
SKU: 58811600
Price: 407.00 ZAR
Availability: InStock
Author: Federal Reserve Board
ISBN: 9781511660426

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portada Institutions and return predictability in oil-exporting countries

Institutions and return predictability in oil-exporting countries

Type

Physical Book

Publisher

Createspace

Author

Federal Reserve Board

Language

English

Pages

Format

Paperback

Dimensions

28x21.6x0.2 cm

Weight

0.10 kg.

ISBN13

9781511660426

Synopsis "Institutions and return predictability in oil-exporting countries"

We study whether stock market returns in oil-exporting countries can be predicted by oil price changes, and we investigate the link between predictability and the quality of each country's institutions. Returns are predictable for half the countries we consider, and predictability is stronger when institutional quality is lower. We argue that the relation between predictability and institutional quality reﬂects the preference of countries with weaker institutions to consume oil windfalls locally rather than smooth out the impact of windfalls by, for instance, investing the proceeds through a sovereign wealth fund.

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Institutions and return predictability in oil-exporting countries - Federal Reserve Board

Synopsis "Institutions and return predictability in oil-exporting countries"

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