Gibson, H.D. and Tsakalotos, E. (1994) The Scope and Limits of Fiancial Liberalization in Developing-Countries - a Critical Survey. Journal of Development Studies, 30 (3). pp. 578-628. ISSN 0022-0388.
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| Official URL http://dx.doi.org/10.1080/00220389408422329 |
Abstract
This article reviews the growing literature on financial reform in developing countries. We draw both on the theoretical contributions outlining the case for and against liberalisation as well as on the experience of many developing countries with liberalisation. We argue that the existence of market failures in financial markets hampers the liberalisation process and indeed suggests that the simple liberalising strategy envisaged in much of the literature is inappropriate. We argue instead for an alternative strategy which integrates some aspects of liberalisation with the development of appropriate financial institutions designed to serve best the needs of the real economy.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculties > Social Sciences > School of Economics |
| Depositing User: | P. Ogbuji |
| Date Deposited: | 26 Jun 2009 16:52 |
| Last Modified: | 08 Jun 2012 15:02 |
| Resource URI: | http://kar.kent.ac.uk/id/eprint/20209 (The current URI for this page, for reference purposes) |
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