Arlene Garces-Ozanne

Arlene Garces-Ozanne is a Lecturer in Economics at the Department of Economics, University of Otago. Her research interests are mainly in the areas of economic development, labour economics, economic education, and empirical modelling of total factor productivity using cross-sectional, time-series and multi-country panel data.

Papers Published in World Economics:

Understanding Crime, Political Uncertainty and Stock Market Returns

Colombia’s economy has experienced positive growth over the past few years despite the incidence of serious armed conflict in the region. However, the Colombia of today still faces a significant degree of sociopolitical instability as a result of organised crime associated with drug trafficking, the leftist guerrilla attacks and the right-wing paramilitary group. This paper examines the significance of organised crime and political uncertainty for the amalgamated Colombian Stock Exchange. Empirical evidence indicates that organised crime and political uncertainty negatively affect stock market returns and volatility.

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