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Financial and capital account liberalisation, financial development and economic development: A review of some recent contributions

Financial and capital account liberalisation, financial development and economic development: A review of some recent contributions

Botta, Alberto (2017) Financial and capital account liberalisation, financial development and economic development: A review of some recent contributions. Forum for Social Economics, 47 (3-4). pp. 362-377. ISSN 0736-0932 (Print), 1874-6381 (Online) (doi:https://doi.org/10.1080/07360932.2017.1383286)

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Abstract

This article presents a review of some recent contributions on the relation between global finance and economic development in emerging economies. It first, stresses the growing consensus among economists on the financial instability that financial and capital account liberalization can possibly cause in emerging economies. It then outlines and compares two alternative strategies to tame such instability. The comparison is between the “good-institutions need-to-come-first” approach put forward by some mainstream economists, and the request for a deeper reform of the existing monetary system advocated by heterodox economists.

Item Type: Article
Uncontrolled Keywords: financial liberalization, capital account liberalization, financial crises, global economic governance
Subjects: H Social Sciences > HB Economic Theory
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Last Modified: 11 Jun 2019 11:48
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: GREAT d
Selected for GREAT 2019: None
URI: http://gala.gre.ac.uk/id/eprint/19928

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