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Liberalization, Financial Instability and Economic Development

Liberalization, Financial Instability and Economic Development

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Weighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization, understood and promoted as absolute freedom for all forms of capital, has been oversold to the Global South, and that the South should be as selective about globalization as the North. ‘Liberalization, Financial Instability and Economic Development’ challenges the orthodoxy on the link between financial deepening and economic growth, as well as that between the efficiency of financial markets and the benefits of liberalization. Ultimately, the author urges developing countries to control capital flows and asset bubbles, preventing financial fragility and crises, and recommends regional policy options for managing capital flows and exchange rates.
This book is made open access as part of the Knowledge Unlatched KU Select 2019: HSS Backlist Books

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Keywords

  • Business & Economics / Development / Economic Development
  • Business and Economics
  • KUnlatched

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