Financial Liberalization in Developing Countries

by Trevor M. Sikorski

Overview

In Financial Liberalization in Developing Countries, Trevor Sikorski challenges conventional financial liberalization theory by using a more complete view of the money creation process in developing countries. This book seeks to develop a theoretical framework for successful analysis of monetary and financial policy in developing countries.

By emphasizing the inter-relationships and institutional structures which characterize the monetary transmission mechanism, Dr Sikorski shows how a policy of full financial liberalization is largely unsustainable in a developing economy. Assuming an endogenous money supply, this analysis is able to take greater account of adjustment costs from financial liberalization. Case studies are presented for South Korea, Indonesia, Malaysia and the Philippines, in order to assess the experiences of these countries in an endogenous money framework.

Financial Liberalization in Developing Countries will be welcomed for offering a coherent and unified theoretical framework capable of explaining the way monetary policy works in repressed and liberalized financial regimes.

Product Details

ISBN-13:	9781858982441
Publisher:	Edward Elgar Publishing
Publication date:	11/19/1996
Pages:	320
Product dimensions:	6.12(w) x 9.25(h) x (d)

About the Author

Trevor M. Sikorski, Environmental Markets Research, Barclays Capital, UK

Table of Contents

Contents: 1. Introduction 2. Endogeneity vs Exogeneity – A Monetary Debate 3. Financial Repression and Liberalization 4. The New Structuralists and Beyond 5. An Alternative: An Application of Post-Keynesian Economics 6. Short-Run Macroeconomics: Adjustment to Financial Liberalization 7. Experiences of Financial Liberalization in the Pacific Basin 8. Conclusions and Policy Directions Bibliography Index

Editorial Reviews

'Those interested in development economics will welcome this book for its coherent explanation of the ways in which monetary policy works in both repressed and liberalized financial regimes.'

CIB News'An excellent work which also provides case studies for South Korea

Using case studies of South Korea, Indonesia, Malaysia, and the Philippines, Sikorski (economics, U. Strathclyde) analyzes monetary and financial policy, and shows how full liberation from government controls makes the money creation process largely unsustainable in developing economies. Annotation c. by Book News, Inc., Portland, Or.

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