Description |
1 online resource (32 pages) |
Series |
IMF working paper, 2227-8885 ; WP/99/66 |
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IMF working paper ; WP/99/66.
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Summary |
Over the last two decades several developing economies have liberalized their domestic financial markets and eliminated current and capital controls and restrictions, though to various extent and at different speed. Starting with the work of McKinnon (1973) and Shaw (1973), and proceeding with that, among others, of King and Levine (1993), it is broadly accepted that financial liberalization, by fostering financial development, can increase economic performance. 2 However, the banking crises of the 1980s and 1990s have pointed out the link between financial liberalization and financial fragility and the existence of a possible trade-off between the benefits of liberalization and the costs of increasing financial fragility, especially in developing markets. 3 On these grounds, some have pointed out that, although there are clear benefits from moving away from a repressed financial system, it might not be optimal to pursue quick and extensive financial deregulation, especially at an early stage in the liberalization process when market institutions have not yet fully adjusted. 4 |
Bibliography |
Includes bibliographical references (pages 28-32) |
Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
Subject |
Capital -- Developing countries
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Capital movements -- Developing countries
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Banks and banking -- Developing countries -- Accounting
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Banks and banking -- State supervision -- Developing countries
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Deposit insurance -- Developing countries
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Banks and banking -- Developing countries -- Accounting
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Banks and banking -- Accounting
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Banks and banking
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Banks and banking -- State supervision
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Capital
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Capital movements
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Deposit insurance
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Developing countries
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Form |
Electronic book
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Author |
International Monetary Fund. Monetary and Exchange Affairs Department.
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ISBN |
1451895321 |
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9781451895322 |
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1281376388 |
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9781281376381 |
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1462387330 |
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9781462387335 |
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1452761361 |
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9781452761367 |
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9786613779588 |
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661377958X |
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9781451848779 |
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1451848773 |
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