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Capital Market Liberalization, Economic Growth, and Instability

Stiglitz, Joseph E.

This paper reviews briefly the arguments for capital market liberalization, and identifies their theoretical and empirical weaknesses. This provides the foundations for the argument for intervention in short-term capital flows. The paper concludes with a brief discussion of the various ways in which such interventions may be implemented.

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Title
World Development
DOI
https://doi.org/10.1016/S0305-750X(00)00006-1

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Academic Units
Economics
Published Here
April 9, 2013
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