Rch in Sd [2021) 101359 Table 4 policy md Stmk Liquidity in DeRloped Emusins k m.kcC -0.001 [-0.04) 0.621 -oossm 0.424 -0001 [-0.03) (-242) 0.418 -001 (-002) c 621 (-0.29) 0.410 [-1.03) c013 0.414 _C010 [-082) 0.411 -0.014 o. 621 c012 0.411 0012 _0027 0021 _C023 (-0.69 _0020 0.623 _0.041 _C029 [-1.42) 0623 table etimted (Cu et al_, 2011; Timpscn, 2 OJ l) (multiplied by 100) daily ratio (TURN,) in 49 pe-iod I 2020 to 3 April 2020 (1650 | 567 fu de.-elopl The imlepQdQt vuiabl& dift policy in day t: cluing (PR cluing (PW), c of pub lic (PR3r) , clins of public (PR4,), public paigu (PR5r) , re t (PR6r), (PR7J. in All imlud e , well additiml vuiabl& d in table total of in tzy (INFO total of (DTHEI), on dan t (Rb & J), of day t volatilib with the lut dayz (VOLWJ), ctk P ratio (PEEJ)_ .44i. R2 is adjted R2 p-value with A B ults to the Table 2. resp-tively a, , statistical at the 10 5 H, I %