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EU Finance Ministers, Capital Markets and Fiscal Outcomes
Author(s) -
António Afonso,
Maria João Guedes
Publication year - 2014
Publication title -
ssrn electronic journal
Language(s) - English
Resource type - Journals
ISSN - 1556-5068
DOI - 10.2139/ssrn.2377234
Subject(s) - stock (firearms) , economics , fiscal policy , capital market , government bond , bond , government (linguistics) , bond market , position (finance) , financial system , fiscal union , monetary economics , finance , mechanical engineering , linguistics , philosophy , engineering
We investigate the relevance of the characteristics of Ministers of Finance as an influence on the development of stock returns, sovereign yields and fiscal outcomes, which result from the implementation of their fiscal policies. For a panel of 27 EU countries, covering the period of 1980-2012, we find that academic background, tenure and gender, play a role in determining stock and bond market returns, as well as the general fiscal position of governments.

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