Macro Volatility and Financial Institutions

José María Fanelli

Chapter 1 in Macroeconomic Volatility, Institutions and Financial Architectures, 2008, pp 1-24 from Palgrave Macmillan

Abstract: Abstract In the 1980s and 1990s many developing countries enthusiastically opened their capital accounts and implemented programs to deregulate their domestic financial markets. This enthusiasm, however, is currently waning. One important reason is that the deregulation of domestic financial markets was frequently associated with financial turmoil and increased exposure to changes in market sentiment. Neither the rules of the game designed for the domestic financial architecture (DFA) nor the institutions of the international financial architecture (IFA) could effectively cope with certain financial disequilibria.

Keywords: Corporate Governance; Financial Institution; Governance Structure; Country Study; Idiosyncratic Risk (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230590182_1

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