This book by Tornell and Westermann is an excellent starting point for public-policy debates on the pros and cons of financial liberalization in developing countries. They put forward a provocative argument: welfare costs of financial crises are, on average, outweighed by the benefits of high growth. The authors provide state-of-the-art theoretical analysis and supporting evidence to illustrate, in a novel way, the workings of an unconventional credit channel responsible for boom-bust cycles.
save
₹1,316.00
Boom-Bust Cycles and Financial Liberalization
The authors successfully resolve what has been the most vexing problem in development finance: Should middle-income countries liberalize domestic interest rates and free international capital flows in the presence of domestic credit market distortions and moral hazard from government rescue operations? Tornell and Westermann show that financial fragility, and the possibility of major crashes, naturally increase with such financial liberalization.
₹1,034.00₹2,350.00
In stock
Related products
-
Macroeconomic Policy Framework for Africa’s Structural Transformation
₹5,226.00The main objective of this book is to identify the key sources of growth which have played a significant role in Africa’s recent robust growth as well as its efforts towards economic transformation. The book assesses to what extent the existing macroeconomic frameworks among African countries have been streamlined to the countries’ development priorities in order to achieve long-term growth and economic transformation.
₹12,154.00 -
Money in the German-speaking Lands
₹5,175.00Money is more than just a medium of financial exchange: across time and place, it has performed all sorts of cultural, political, and social functions. This volume traces money in German-speaking Europe from the late Renaissance until the close of the twentieth century, exploring how people have used it and endowed it with multiple meanings.
₹12,034.00 -
Knowledge Management in Organizations
₹135.00This textbook provides a critical review and analysis of the key themes that underpin the subject of knowledge management in organizations.
₹250.00 -
Handbook of Middle Management Strategy Process Research
₹10,340.00Split into five distinct sections, the book explicates the unit of analysis and presents foundational theories, emerging models, cutting-edge methods, and original empirical research in strategy process research. Contributors with diverse theoretical and methodological perspectives identify and address a wide range of research issues relevant to middle managers’ participation in strategy making, such as social network analysis and video methodology. Standout chapters include one on complex strategic integration by Robert A. Burgelman and one on the development of theory by Henry Mintzberg.
₹19,550.00
Be the first to review “Boom-Bust Cycles and Financial Liberalization”