IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-22774-3_2.html
   My bibliography  Save this book chapter

Financial Liberalization and Domestic Policy Space: Theory and Practice with Reference to Latin America

In: Financial Liberalization and Economic Performance in Emerging Countries

Author

Listed:
  • Jan Kregel

Abstract

Although they were not included in the original policy proposals of the Washington Consensus, opening domestic capital markets to foreign capital inflows and deregulation of domestic capital markets have been a crucial element of structural adjustment policies practised by Latin American developing countries and as part of the conditionality attached to IMF and World Bank lending programmes starting in the 1970s. Sup-port for these measures comes from a straightforward application of the neoclassical approach to efficient distribution of economic resources on a global level. This position still dominates the thinking of multilateral institutions, despite the fact that it is based on a faulty theoretical justification, as demonstrated by the 1960s Cambridge Controversies in the theory of capital.

Suggested Citation

  • Jan Kregel, 2008. "Financial Liberalization and Domestic Policy Space: Theory and Practice with Reference to Latin America," Palgrave Macmillan Books, in: Philip Arestis & Luiz Fernando Paula (ed.), Financial Liberalization and Economic Performance in Emerging Countries, chapter 2, pages 9-25, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22774-3_2
    DOI: 10.1057/9780230227743_2
    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.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guizzo, Danielle & Strachman, Eduardo & Dalto, Fabiano & Feijo, Carmem, 2018. "Financialisation and Development: how can emerging economies catch up?," MPRA Paper 87076, University Library of Munich, Germany.

    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:pal:palchp:978-0-230-22774-3_2. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.