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Conference Paper
The current state of the art in rural equity markets : leading edge institutions
Sandbulte, Greg (1999-08)
Proceedings – Rural and Agricultural Conferences , Issue Aug , Pages 77-83

Report
Central and Eastern Europe: financial markets and private capital flows
Sobol, Dorothy M. (1996)
The resurgence of private capital flows to developing countries beginning in the late 1980s did not initially benefit the countries of Central and Eastern Europe. With the collapse of Communist governments throughout the region beginning in 1989 most countries in the region were absorbed in a political and economic upheaval unimaginable only years earlier. Today, while the amount of private capital entering Central and Eastern Europe is still a very small fraction of that provided to all developing countries, it has nonetheless begun to flow in. Whereas the countries in Central and Eastern ...
Research Paper , Paper 9626

Journal Article
Capital controls by any other name
Juvenal, Luciana; Fawley, Brett W. (2011)
The embrace of ad hoc capital controls to address temporary market inefficiencies on a case-by-case basis, while pragmatic, perpetuates the view that each capital crisis is an isolated example of failed financial institutions.
Economic Synopses

Journal Article
Inflation and the efficiency of capital markets
Bisignano, Joseph (1976-07)
Economic Review , Issue Sum , Pages 17-24

Working Paper
Financial integration, entrepreneurial risk and global dynamics
Angeletos, George-Marios; Panousi, Vasia (2010)
How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? This paper investigates this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk---a risk that introduces, not only a precautionary motive for saving, but also a wedge between the interest rate and the marginal product of capital. Our contribution is then to show that this friction provides a simple explanation for the emergence of global imbalances, a simple resolution to the empirical ...
Finance and Economics Discussion Series , Paper 2010-54

Working Paper
Returns on illiquid assets: are they fair games?
Krainer, John; LeRoy, Stephen F. (1997)
The simplest tests of capital market efficiency are tests of the fair game model: conditional expected returns less the interest rate are equal to zero. The fair game model is thought to obtain only when markets are perfectly liquid. We show that this conjecture is false. In a model of the housing market where heterogeneous agents must search for partners in order to trade, excess returns on housing wealth are fair games if, as is appropriate, returns are defined to include shadow prices measuring illiquidity.
Working Papers in Applied Economic Theory , Paper 97-05

Journal Article
The equity premium puzzle
Abel, Andrew B. (1991-09)
Business Review , Issue Sep , Pages 3-14

Journal Article
Research spotlight: Have free markets failed us?
Slivinski, Stephen (2009-04)
Related link: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/spring/research_spotlight_weblinks.cfm
Econ Focus , Volume 13 , Issue Spr , Pages 11

Working Paper
Expected consumption growth from cross-country surveys: implications for assessing international capital markets
Rogers, John H.; Engel, Charles (2008)
Survey data show that the expected growth rates of consumption across countries vary widely and are not highly correlated. This data contradicts the simplest of open-economy models in which there is a freely traded non- state-contingent bond and purchasing power parity holds. We explore two alternative explanations for the finding: that households in each country in effect face different ex ante real interest rates or that there are significant credit constraints, so that expected consumption growth rates are driven largely by expected income growth. The empirical evidence strongly supports ...
International Finance Discussion Papers , Paper 949

Journal Article
Statements to the Congress, April 13, 2000 (evolution of our equity markets)
Greenspan, Alan (2000-06)
Federal Reserve Bulletin , Issue Jun , Pages 405-408

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