Financial crisis have a stronger negative effect in countries where the population is very averse to uncertainty. Firms in these countries, such as Greece, reduce their investments much more after a crisis than countries where the inhabitants are more at ease with uncertainty, such as the United States or the United Kingdom. This is the result of research by dr. Robert Inklaar and FEB-alumnus (and former Honours student) Jing Yang. Their paper The impact of financial crises and tolerance for uncertainty, soon to be published in the Journal of Development Economics, is the new FEB Publication of the Month.
