The Power of the Street : Evidence from Egypt ’ s Arab Spring ∗

  title={The Power of the Street : Evidence from Egypt ’ s Arab Spring ∗},
  author={Daron Acemoglu and Tarek A. Hassan and Ahmed Tahoun},
Unprecedented street protests brought down Mubarak’s government and ushered in an era of competition between three rival political groups in Egypt. Using daily variation in the number of protesters, we document that more intense protests are associated with lower stock market valuations for firms connected to the group currently in power relative to non-connected firms, but have no impact on the relative valuations of firms connected to rival groups. These results suggest that street protests… CONTINUE READING
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