Financial Liberalization in DevelopingCountries: Issues, Time Series Analyses and Policy Implications(Contributions to Economics)
Physica-Verlag Heidelberg | 2009-10-14 | ISBN: 3790821675 | 298 pages | PDF | 1.4 MB


The latest global financial and economic crisis of 2008 has shown theneed to re-examine the desirability of financial liberalization. Thisbook is undertaking such a study on the issue of financial and marketliberalization by adopting sophisticated econometric methods. Itexamines the effects of financial liberalization on economicdevelopment and social welfare using a case study approach on a sampleof three Sub-Saharan African and an Asian country in which financialliberalization reforms were implemented. Further, it highlights somekey causes of the failure of reform, and the policies and institutionsthat are needed to create an environment for successful financialliberalization. From the detailed country assessments, various policiessuch as effective competition in the banking sector, sound legalsystem, fiscal discipline and financial institutional development areidentified, adoption of which can improve the efficiency of resourceallocation, boost savings and impact growth, and thus lead to welfareenhancement.