Financial Markets and Politics: The Piñera Effect on the Chilean Capital Market
Date
2014
Type:
Artículo
item.page.extent
item.page.accessRights
item.contributor.advisor
ORCID:
Journal Title
Journal ISSN
Volume Title
Publisher
item.page.isbn
item.page.issn
item.page.issne
item.page.doiurl
item.page.other
item.page.references
Abstract
The 2010 presidential election in Chile marked a change from the center-left coalition that governed the country for twenty years to a center-right coalition led by politician and businessman Sebastian Piñera. We study the effect that Piñera's presidential campaign had on the Chilean capital market. By using a panel of forty-nine companies during a period of thirteen months prior to the election, we find that there was a positive and significant effect on the capital market because of the expectation that Piñera would be elected president. That expectation continued throughout the entire presidential campaign.
Description
item.page.coverage.spatial
item.page.sponsorship
Citation
Emerging Markets Finance and Trade, 2014, 50: 121-133, supplement 1
Keywords
Chile, Financial markets, Presidential elections