IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v22y1998i6p663-76.html
   My bibliography  Save this article

Capital Market Crises: Liberalisation, Fixed Exchange Rates and Market-Driven Destabilisation

Author

Listed:
  • Taylor, Lance

Abstract

External financial crises are not caused by an alert private sector taking advantage of the public sector's foolish actions such as running an unsustainable fiscal deficit or creating moral hazards. They are better described as private sectors (both domestic and foreign) acting to make destabilizing short-term profits when policy and circumstances provide the preconditions and the regulatory authorities acquiesce. Policy alternatives are discussed in the present global macroeconomic environment, in particular the counter-productive interventions of the International Monetary Fund in East Asia. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Taylor, Lance, 1998. "Capital Market Crises: Liberalisation, Fixed Exchange Rates and Market-Driven Destabilisation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(6), pages 663-676, November.
    • Handle: RePEc:oup:cambje:v:22:y:1998:i:6:p:663-76
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:22:y:1998:i:6:p:663-76. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.