We examine what is perceived as one of the main culprits in the occurrence of banking crises: financial liberalization. As is typically argued, if liberalization is accompanied by insufficient prudential supervision of the banking sector, it will result in excessive risk taking by financial intermediaries and a subsequent crisis. Having evaluated the empirical validity of this hypothesis, we co...

__________________________________________________________________ This paper develops a methodology for predicting the impact of trade liberalization on exports by industry (3-digit ISIC) based on the pre-liberalization distribution of exports by product (5-digit SITC). Using the results of Kehoe and Ruhl (2013) that much of the growth in trade after trade liberalization is in products that ar...

Financial liberalization should reduce borrowing constraints and increase capital demand according to theory. If production functions exhibit capital-skill complementarity, liberalization should increase the aggregate demand for skilled labor relative to unskilled labor, increasing wage inequality in equilibrium. This paper studies the effects of financial liberalization on inequality through t...

This thesis hypothesized that extensive telecommunications liberalization would not increase the penetration rate of the fixed telephone service better than other, less competitionoriented, policy alternatives. The hypothesis was validated in the case of Thailand and the Philippines. However, for the cellular mobile telephone and Internet services, extensive telecommunications liberalization co...

This article explains how the institutional context of international negotiations influences their outcomes. I argue that issue linkage counteracts domestic obstacles to liberalization by broadening the negotiation stakes. Institutions bolster the credibility of the linkage to make it more effective. I test the argument in the agricultural sector, which has been among the most difficult sectors...

The relationship between trade liberalization and economic growth is a hotly contested issue. Some studies claim positive impact while others oppose it. This study uses updated data to generate new evidence for the debate. Using dynamic panel framework Sachs-Warner indicator of liberalization, this finds that does appear growth. generated points advocacy extending volume supporting view classic...

This paper provides new evidence on the impacts of trade reforms on wages. Instead of achieving identification by comparing industrial wages before and after one episode of trade liberalization, our strategy exploits the recent historical record of policy changes adopted by Argentina: from significant protection in the early 1970s, to the first episode of liberalization during the late 1970s, b...

In the early and mid-1990s, most economists and policymakers supported rapid capital account liberalization for emerging markets. Liberalization was expected to have widespread benefits. It was predicted to increase capital inflows, thereby financing investment and raising growth. Capital inflows—especially in the form of direct investment—would provide improved technology and management techni...

Does contentious collective action matter? Whereas most social movement literature has addressed this question in the US context for policy change outcomes, this paper takes a different approach by bringing the question to a global context and examines democratization as a structural outcome. Accordingly, we test several hypotheses about the ephemeral, positive, and negative influences of conte...

Small and medium-sized enterprises (SMEs) play a very important role in enhancing economic development in Laos. However, SMEs in Laos are small and lack competitiveness. The inflow of foreign direct investment (FDI) and trade liberalization in Laos bring opportunities and challenges for SMEs in Laos. Moreover, issues of SMEs and assessment of SMEs promotion policy are not well understood for la...