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International Capital liberalization: The impact on World Development
(Universidad de Chile. Facultad de Economía y Negocios, 1997-12)
The widespread liberalization of international financial flows followed the end of the Bretton Woods system of fixed parities among the world’s major currencies. The trend toward openness has accelerated in the 1980’s and ...
Financial liberalization, market structure and credit penetration
(Elsevier, 2014)
This paper shows that the effects of financial liberalization on the
credit market of a small and capital constrained economy depend
on the market structure of domestic banks prior to liberalization.
Specifically, under ...
The two forms of capitalism: developmentalism and economic liberalism
(Centro de Economia Política, 2017)
This paper argues that the state and the market are the main institutions regulating capitalism, and, correspondingly, that the form of the economic and political coordination of capitalism will be either developmental or ...
Stability with growth. Macroeconomics, liberalization and development
(Oxford University Press, 2006)
This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that ...
The IMF and capital account liberalization: a case of failed norm institutionalization
While virtually all elements of the original agenda of the ‘Washington Consensus’ have become global policy norms over the course of the past twenty years, the case of free capital mobility stands out as an outlier. In his ...
Prospects for avoiding crises with liberalized capital flows
(Universidad de Chile. Facultad de Economía y Negocios, 1997-12)
The history of Latin America’s relations with the international capital market has not been a happy one. Debt crises have recurred with monotonous regularity ever since the 1820’s, about three years after the first loans ...