“…Empirical evidence on this and other benefits of liberalization is documented in studies such as Bekaert and Harvey (1997), (2000), Kim and Singal (2000), Henry (2000), (2003), Chari and Henry (2004), Bae, Bailey, and Mao (2006), Bekaert, Harvey, Lundblad, and Siegel (2007), Gupta and Yuan (2009), and so on.…”