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Désindustrialisation et crise financière dans une économie émergente


  • Yannick Kalantzis


We study the effect of capital account liberalization using the model of a small open economy with two sectors. Capital inflows lead to a real appreciation in the short run and to a displacement of production toward non-tradable goods in the long run. We show to what condition this deindustrialization can lead to financial fragility by making self-fulfilling financial crises possible.

Suggested Citation

  • Yannick Kalantzis, 2005. "Désindustrialisation et crise financière dans une économie émergente," Revue économique, Presses de Sciences-Po, vol. 56(3), pages 777-785.
  • Handle: RePEc:cai:recosp:reco_563_0777

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    Cited by:

    1. Espanol, Paula, 2006. "Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s," Proceedings of the German Development Economics Conference, Berlin 2006 7, Verein für Socialpolitik, Research Committee Development Economics.

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