Economic Policy Uncertainty and Financial Performance in Emerging Markets

Elif Akben-Selcuk


The objective of this study is to investigate the relationship between economic policy uncertainty (EPU) and financial performance using 5,509 firm-year observations from nine emerging markets which are Brazil, Chile, Colombia, Greece, India, Korea, Mexico, Pakistan, and Russia. The period of analysis spans the years between 2011-2022. Fixed-effects regressions show that there is a negative relationship between EPU and firm financial performance. Results are robust to different EPU measures. Implications are provided.

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Business Management and Strategy  ISSN 2157-6068

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