Financial Liberalization in Developing Countries: Issues, Time Series Analyses and Policy Implications

✍ Scribed by Abdullahi Dahir Ahmed, Sardar M. N. Islam (auth.)

• Publisher: Physica-Verlag Heidelberg
• Year: 2009
• Tongue: English
• Leaves: 302
• Series: Contributions to Economics
• Edition: 1
• Category: Library

✦ Synopsis

The latest global financial and economic crisis of 2008 has shown the need to re-examine the desirability of financial liberalization. This book is undertaking such a study on the issue of financial and market liberalization by adopting sophisticated econometric methods. It examines the effects of financial liberalization on economic development and social welfare using a case study approach on a sample of three Sub-Saharan African and an Asian country in which financial liberalization reforms were implemented. Further, it highlights some key causes of the failure of reform, and the policies and institutions that are needed to create an environment for successful financial liberalization. From the detailed country assessments, various policies such as effective competition in the banking sector, sound legal system, fiscal discipline and financial institutional development are identified, adoption of which can improve the efficiency of resource allocation, boost savings and impact growth, and thus lead to welfare enhancement.

✦ Table of Contents

Front Matter....Pages i-xvii
Introduction....Pages 1-16
Background, Structure and Financial Reforms....Pages 17-67
Literature Review....Pages 69-90
The Theory of Financial Liberalization and its Economic Impact: An Assessment....Pages 91-140
An Analysis of the Economic Outcome of Financial Liberalization....Pages 141-173
Testing the Potential Impact of Economic Changes on Savings in African Countries....Pages 175-219
Welfare Implications of Financial Liberalization in Thailand: A Cost-Benefit Analysis....Pages 221-247
Summary, Findings and Conclusion....Pages 249-253
Back Matter....Pages 255-295

✦ Subjects

Financial Economics; Development Economics