LEADER 05846nam 22006972 450 001 9910464277903321 005 20230803202457.0 010 $a1-78308-240-2 035 $a(CKB)3710000000111824 035 $a(EBL)1688571 035 $a(SSID)ssj0001222145 035 $a(PQKBManifestationID)11654044 035 $a(PQKBTitleCode)TC0001222145 035 $a(PQKBWorkID)11195127 035 $a(PQKB)10992960 035 $a(UkCbUP)CR9781783082407 035 $a(MiAaPQ)EBC1688571 035 $a(Au-PeEL)EBL1688571 035 $a(CaPaEBR)ebr10869971 035 $a(CaONFJC)MIL881502 035 $a(OCoLC)899731544 035 $a(ScCtBLL)97f625a0-9f05-4fbd-9f54-b157e0882f69 035 $a(EXLCZ)993710000000111824 100 $a20140513d2014|||| uy| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aLiberalization, financial instability and economic development /$fYilmaz Akyu?z$b[electronic resource] 210 1$aLondon :$cAnthem Press,$d2014. 215 $a1 online resource (ix, 327 pages) $cdigital, PDF file(s) 225 1 $aAnthem Frontiers of Global Political Economy 300 $aTitle from publisher's bibliographic system (viewed on 02 Oct 2015). 311 $a1-78308-229-1 320 $aIncludes bibliographical references at the end of each chapters. 327 $aLiberalization, Financial Instability and Economic Development; Half title; Copyright; CONTENTS; INTRODUCTION; Notes; References; Part One LIBERALIZATION, STABILITY AND GROWTH; Chapter I FINANCIAL LIBERALIZATION: THE KEY ISSUES; A. Introduction; B. Interest Rates and Savings; C. Financial Liberalization and Deepening; D. Allocative Efficiency; 1. Market failure; 2. Successful intervention; 3. Measuring efficiency; E. Productive Efficiency and Cost of Finance; 1. Risk, uncertainty and interest rates; 2. Intermediation margin; F. Regulation of Finance and Financial Stability 327 $a1. Risk taking by banks 2. Prudential regulations; 3. Interest ceilings; G. Options in Financial Organizations; 1. Bank-oriented and market-oriented finance; 2. Efficiency of alternative systems; 3. Requirements for an efficient bank-oriented system; 4. Control and regulation of stock markets; H. External Liberalization and Financial Openness; 1. The concept of financial openness; 2. The extent of financial openness in developing countries; 3. Nature of capital flows; 4. Recent capital flows to Latin America; 5. Opening stock markets to nonresidents 327 $a6. Effects of volatile capital flows on investment and trade7. Controlling capital flows; I. Conclusions; Notes; References; Chapter II MANAGING FINANCIAL INSTABILITY IN EMERGING MARKETS: A KEYNESIAN PERSPECTIVE; A. Introduction; B. The Keynesian Instability Hypothesis and Financial Cycles; C. Investment and Jobs over the Financial Cycle; D. The Policy Problem; E. Capital Flows and Countercyclical Monetary Policy; F. Reserve Accumulation as Self-Insurance; G. Financial Regulations, Capital Controls and Risk Management; H. Conclusions; Notes; References 327 $aChapter III FROM LIBERALIZATION TO INVESTMENT AND JOBS: LOST IN TRANSLATION A. Global Economic Integration and the Labor Market; B. Capital Formation, Growth and Employment; 1. Issues at stake; 2. The record; 3. Public investment; 4. FDI and capital formation; 5. Policy failure: Omission or commission?; C. Managing Profits and Accumulation; D. Macroeconomic Policy: What Policy?; 1. Imbalances in the industrial world; 2. Fiscal constraints and procyclical policy in emerging markets; E. Financial Instability, Investment and Employment; 1. Financial boom-bust cycles 327 $a2. Financial and investment cycles 3. Bubbles, crises and jobless recoveries; F. Policy Priorities; Notes; References; Chapter IV EXCHANGE RATE MANAGEMENT, GROWTH AND STABILITY: NATIONAL AND REGIONAL POLICY OPTIONS IN ASIA; A. Introduction; B. Exchange Rate, Trade and Growth; 1. The export-investment nexus; 2. Exchange rate, employment and investment; 3. Limits and costs of reliance on the exchange rate; 4. Cross-country evidence; C. Capital Flows, Exchange Rates and the Real Economy; 1. Boom-bust cycles in capital flows and exchange rate gyrations 327 $a2. Wages, employment and investment over the cycle 330 $aWeighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization, understood and promoted as absolute freedom for all forms of capital, has been oversold to the Global South, and that the South should be as selective about globalization as the North. 'Liberalization, Financial Instability and Economic Development' challenges the orthodoxy on the link between financial deepening and economic growth, as well as that between the efficiency of financial markets and the benefits of liberalization. Ultimately, the author urges developing countries to control capital flows and asset bubbles, preventing financial fragility and crises, and recommends regional policy options for managing capital flows and exchange rates. 410 0$aAnthem frontiers of global political economy. 517 3 $aLiberalization, Financial Instability & Economic Development 606 $aFinance 606 $aFinancial crises 606 $aFinance$zDeveloping countries 606 $aEconomic development$zDeveloping countries 615 0$aFinance. 615 0$aFinancial crises. 615 0$aFinance 615 0$aEconomic development 676 $a332/.042 700 $aAkyu?z$b Y?lmaz$0375293 801 0$bUkCbUP 801 1$bUkCbUP 906 $aBOOK 912 $a9910464277903321 996 $aLiberalization, financial instability and economic development$92258073 997 $aUNINA