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The Mckinnon-Shaw Hypothesis: Thirty Years on:A Review of Recent Developments in Financial Liberalization Theory

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Firdu Gmech ()
Abstract

The Mckinnon-Shaw Hypothesis, in its’ various forms, is now thirty years old. This paper attempts to survey the literature on the Mckinnon-Shaw Hypothesis and tries to draw out some of the recurrent themes of this literature. The paper also highlights the continuing relevance of the original hypothesis to on-going debates concerned with the effects of financial liberalization.

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Paper provided by esocialsciences.com in its series Working Papers with number id:537.

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Date of creation: 2006
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Handle: RePEc:ess:wpaper:id:537

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Related research
Keywords: Mckinnon-Shaw Hypothesis; financial liberalisation; Economics; International Economic Reltions;

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  7. Oriana Bandiera & Gerard Caprio & Patrick Honohan & Fabio Schiantarelli, 2000. "Does Financial Reform Raise or Reduce Saving?," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 239-263, May. [Downloadable!] (restricted)
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  11. Reinhart, Carmen & Vegh, Carlos, 1994. "Intertemporal consumption substitution and inflation stabilization:An empirical investigation," MPRA Paper 13427, University Library of Munich, Germany. [Downloadable!]
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  17. Vicente Galbis, 1993. "High Real Interest Rates Under Financial Liberalization: Is There a Problem?," IMF Working Papers 93/7, International Monetary Fund.
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  26. de Melo, Jaime & Tybout, James, 1986. "The Effects of Financial Liberalization on Savings and Investment in Uruguay," Economic Development and Cultural Change, University of Chicago Press, vol. 34(3), pages 561-87, April.
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