Financial Liberalization and Policy Challenges

Michael Dooley

No 4102, Research Department Publications from Inter-American Development Bank, Research Department

Abstract: There is growing discontent with the conventional wisdom concerning economic policy. The unhappy fact seems to be that a stable macroeconomic environment may be necessary but not sufficient to coax the desired outcomes from liberalized financial systems. This paper reviews several promising extensions of the conventional model and discusses their policy implications.

Date: 1997-12
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Working Paper: Financial Liberalization and Policy Challenges (1997)
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