In preparation for ABFM’s upcoming conference, I am doing a series of profiles on the doctoral students on the job market.
Ani Ter-Mkrtchyan (University of Oklahoma – Political Science) will be presenting “Political Environments, Public Finance Outcomes and Financial Development” at the conference. Her dissertation (chaired by Hank Jenkins-Smith) is on Governance, Ideology and the Nuclear Waste Stalemate in the USA. I have the first part of her job market paper, “Global Financial System Outcomes after 2008: A Longitudinal Comparison,” here is the abstract:
The paper examines the condition of global financial systems before and after the 2008 financial crisis that was felt worldwide. Using a comparative perspective, we assess longitudinal trends in the functioning of the financial systems to explore the nature of financial market recovery and how financial system outcomes may have been on a different trajectory after 2008 than they were before 2008. We measure financial system outcomes across four dimensions: financial depth, access, efficiency, and stability. In addition, we compare differences in the level of development of a country to explore how variations in the external environment for a country’s financial system influenced the rate of decline in 2008 as well as the rate of recovery after 2008. Our findings indicate that the recovery of financial system outcomes was stronger for developed countries as opposed to transition and developing economies. As suspected, we also find evidence for the impact of the environmental context on financial system outcomes. In particular, the correlations are stronger for regulatory quality and the rule of law: political stability seems to have no effect on financial system outcomes for the 180 cases in our study.
Visit Ani’s website to learn more.