Decomposing the effects of financial liberalization: Crises vs. growth
نویسندگان
چکیده
منابع مشابه
Financial Crises after Financial Liberalization: Exceptional Circumstances or Structural Weakness?
Recent studies have conjectured that there may be a link between financial liberalization and financial instability in emerging economies. Most of these studies, however, do not investigate whether emerging economies are becoming structurally more vulnerable to currency and banking crises. In this paper, we argue that emerging economies are systematically becoming more susceptible to both curre...
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During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital inflows from advanced countries that would finance higher investment and growth; (ii) insure against aggregate shocks and reduce consumption volatility; and (iii) accelerate the development of ...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2006
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2006.05.019