Academic Commons

Articles

Beggar-Thyself versus Beggar-Thy-Neighbor Policies: The Dangers of Intellectual Incoherence in Addressing the Global Financial Crisis

Stiglitz, Joseph E.

Stiglitz uses the global financial crisis that began in Thailand on July 2, 1997 to foreground some remarks on the preconditions necessary for full capital market liberalization to take place, and addresses the following questions: "Did various participants in the "bailouts" and the other actions related to various stages of the crisis-not only the governments of the affected countries but also governments of the countries bringing assistance and the international financial institutions-have incentives that, if not leading to the misguided decisions, at least made such decisions more likely? Would different decisions have been made if the decision-making process-including the participants in that process-had been different?"

Geographic Areas

Subjects

Files

Also Published In

Title
Southern Economic Journal

More About This Work

Academic Units
Business
Published Here
June 20, 2012
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.