Capital market liberalization, economic growth, and instability

Authors
Stiglitz, JE
Citation
Je. Stiglitz, Capital market liberalization, economic growth, and instability, WORLD DEV, 28(6), 2000, pp. 1075-1086
Citations number
25
Categorie Soggetti
EnvirnmentalStudies Geografy & Development
Journal title
WORLD DEVELOPMENT
ISSN journal
0305750X → ACNP
Volume
28
Issue
6
Year of publication
2000
Pages
1075 - 1086
Database
ISI
SICI code
0305-750X(200006)28:6<1075:CMLEGA>2.0.ZU;2-W
Abstract
This paper reviews briefly the arguments for capital market liberalization, and identifies their theoretical and empirical weaknesses. This provides t he foundations for the argument for intervention in short-term capital flow s. The paper concludes with a brief discussion of the various ways in which such interventions may be implemented. (C) 2000 Elsevier Science Ltd. All rights reserved.