International financial liberalisation: lessons from recent experience
By: Rajan, Ramkishen S.
Material type:
ArticlePublisher: 2002Description: p.3017-021.Subject(s): Liberalization | Financial administration
In:
Economic and Political WeeklySummary: Theory offers a number of plausible benefits from international financial liberalisation. However, a careful examination of available empirical literature on the subject suggests much less reason to be sanguine about the benefits. In view of the widely-noted concerns regarding short-term indebtedness, a strong case can be made for the setting of prudential limits on the amount of short-term debt that a country can accumulate. Somewhat less clear is what steps need to be taken to reduce vulnerability due to uncovered long-term foreign currency borrowing. - Reproduced.
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Articles
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Indian Institute of Public Administration | Volume no: 37, Issue no: 29 | Available | AR53600 |
Theory offers a number of plausible benefits from international financial liberalisation. However, a careful examination of available empirical literature on the subject suggests much less reason to be sanguine about the benefits. In view of the widely-noted concerns regarding short-term indebtedness, a strong case can be made for the setting of prudential limits on the amount of short-term debt that a country can accumulate. Somewhat less clear is what steps need to be taken to reduce vulnerability due to uncovered long-term foreign currency borrowing. - Reproduced.
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