Capital Market Liberalization, Economic Growth and Instability
Abstract
This paper reviews briefly the arguments for capital market liberalization, and identifies their theoretical and empirical weaknesses. This provides the foundations for the argument for intervention in short-term capital flows. The paper concludes with a brief discussion of the various ways in which such interventions may be implemented.
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Citation
Stiglitz, Joseph. "Capital Market Liberalization, Economic Growth and Instability." World Development 28, no. 6 (2000): 1075-86.
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