Macroeconomic Consequences of Financial Liberalisation
Author: A. Blundell-Wignall
Publisher: OECD
Published: 1991
Total Pages: 74
ISBN-13:
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Author: A. Blundell-Wignall
Publisher: OECD
Published: 1991
Total Pages: 74
ISBN-13:
DOWNLOAD EBOOKAuthor: Adrian Blundell-Wignall
Publisher:
Published: 1991
Total Pages: 65
ISBN-13:
DOWNLOAD EBOOKAuthor:
Publisher:
Published: 1991
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Mr.Sergio L. Schmukler
Publisher: International Monetary Fund
Published: 2003-02-01
Total Pages: 61
ISBN-13: 1451845286
DOWNLOAD EBOOKWe examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization.
Author: Philip Arestis
Publisher: Springer
Published: 2016-11-26
Total Pages: 384
ISBN-13: 3319412191
DOWNLOAD EBOOKThis book is the thirteenth volume in the International Papers in Political Economy (IPPE) series which explores the latest developments in political economy. A collection of eight papers, the book concentrates on the deregulation of domestic financial markets and discusses financial liberalisation in terms of its past performance, current progress and future developments. The chapters have been written by expert contributors in the field and focus on topics such as past records of financial liberalisation, future policies of regulation, and current account imbalances. Other papers examine capital account regulations in developing and emerging countries, and capital controls in the Eurozone after the 2007 financial crisis. This collection of papers invites readers to consider the impact of financial liberalisation both during and after the global economic crisis. Scholars and students with an interest in political economy, financialisation, and economic performance will find this collection stimulating and informative.
Author: John Williamson
Publisher: Princeton University International Finance Section, Department of Econmics
Published: 1998
Total Pages: 84
ISBN-13:
DOWNLOAD EBOOKAuthor: Asli Demirgüç-Kunt
Publisher: World Bank Publications
Published: 1998-06-01
Total Pages: 53
ISBN-13:
DOWNLOAD EBOOKA study of 53 countries during 1980-95 finds that financial liberalization increases the probability of a banking crisis, but less so where the institutional environment is strong. In particular, respect for the rule of law, a low level of corruption, and good contract enforcement are relevant institutional characteristics. the data also show that, after liberalization, financially repressed countries tend to have improved financial development even if they experience a banking crisis. This is not true for financially restrained countries. This paper’s results support a cautious approach to financial liberalization where institutions are weak, even if macroeconomic stabilization has been achieved.
Author: P. Arestis
Publisher: Springer
Published: 2005-09-08
Total Pages: 179
ISBN-13: 0230522386
DOWNLOAD EBOOKThe financial liberalization thesis emerged in the 1970s and has been of considerable importance ever since, not merely in terms of its theoretical influence but, perhaps more importantly, in terms of its impact on policy makers and policy debates. Although it has encountered increasing scepticism over the years, it nevertheless had a relatively early impact on development policy, which still continues unabated, through the work of the IMF and the World Bank. The latter two institutions, perhaps in their traditional role as promoters of what were claimed to be free market conditions, were keen to encourage financial liberalization policies as part of more general reforms or stabilization programmes. This book explores what we have learned from the vast experience of the theoretical and policy aspects of the financial liberalization.
Author: Tim Niepel
Publisher: GRIN Verlag
Published: 2015-06-03
Total Pages: 43
ISBN-13: 3656972532
DOWNLOAD EBOOKMaster's Thesis from the year 2013 in the subject Business economics - Investment and Finance, grade: 1,5, Utrecht University (Utrecht School of Economics), language: English, abstract: Financial liberalization stimulates competition and thereby supposedly increases the efficiency of investment. A simple credit market model is developed to show that such efficiency improvements may be disturbed by competition-induced incentives for banks to accept higher default rates, which result in instability of the financial system. Thereby we offer a complementary explanation to the relationship between competition and stability in financial markets. Consequently we argue that government intervention, in the form of intelligent regulation, is necessary to ensure the development of sustainable financial markets.
Author: Adrian Blundell-Wignall
Publisher:
Published: 1991
Total Pages: 65
ISBN-13:
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