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Discussion / דיון פתיחת שוק ההון בישראל: מספר תוצאות והשלכות מדיניות

דיוויד נ. וייל and David N. Weill
The Economic Quarterly / הרבעון לכלכלה
Vol. 43, No. 2 (אב תשנ"ו / אוגוסט 1996), pp. 323-327
Stable URL: http://www.jstor.org/stable/23771272
Page Count: 5
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Discussion / דיון פתיחת שוק ההון בישראל: מספר תוצאות והשלכות מדיניות
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Abstract

This discussion will follow the pattern of the paper's title. First the evidence that Israel's capital market has been integrated with the world market, then I will discuss the policy implications of the process. Since the empirical evidence is pretty clear cut, however, I will spend most of my time on the policy issue. Empirical finding is that Israel's capital market has been increasingly integrated into world market. One way to see this is just to look at institutional changes — as this paper does. Beyond this, the question is: what can econometrics tell us, in addition, about the pace and direction of change? Can it tell us, for example, which institutional changes are the most important?

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