IDEAS home Printed from https://ideas.repec.org/b/ecr/col014/1939.html
   My bibliography  Save this book

Financial globalization: from crises-prone to development-friendly?

Author

Listed:
  • Ffrench-Davis, Ricardo

Abstract

Opening of the capital account has been one of the strongest policy recipes of mainstream economics since the 1980s. The recipe has been implemented vigorously in Latin America, encompassing a wide variety of flows including acquisitions of public and private firms, bonds, equity stock and derivatives.2 After significant innovations in international capital markets in the 1990s, private flows flowed abundantly into Latin America, particularly, in 1990–97. Liberalization has also included flows of domestic capital, seeking the full integration of local financial markets to international markets.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ffrench-Davis, Ricardo, 2007. "Financial globalization: from crises-prone to development-friendly?," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1939.
    • Handle: RePEc:ecr:col014:1939
    Note: Includes bibliography
    as

    Download full text from publisher

    File URL: http://repositorio.cepal.org/handle/11362/1939
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    2. Merlinda D. Ingco & John D. Nash, 2004. "Agriculture and the WTO : Creating a Trading System for Development," World Bank Publications - Books, The World Bank Group, number 14930.
    3. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    4. Michael A. Clemens & Jeffrey G. Williamson, 2001. "A Tariff-Growth Paradox? Protection's Impact the World Around 1875-1997," NBER Working Papers 8459, National Bureau of Economic Research, Inc.
    5. Jim Love & Ramesh Chandra, 2004. "Testing Export‐Led Growth in India, Pakistan and Sri Lanka Using a Multivariate Framework," Manchester School, University of Manchester, vol. 72(4), pages 483-496, July.
    6. Douglas A. Irwin, 2002. "Interpreting the Tariff-Growth Correlation of the Late Nineteenth Century," NBER Working Papers 8739, National Bureau of Economic Research, Inc.
    7. Douglas A. Irwin, 2002. "Interpreting the Tariff–Growth Correlation of the Late 19th Century," American Economic Review, American Economic Association, vol. 92(2), pages 165-169, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Titelman Kardonsky, Daniel & Vera, Cecilia, 2009. "A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's," Financiamiento para el Desarrollo 5200, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Manuel R. Agosin, 2007. "Trade and Growth: Why Asia Grows Faster than Latin America," Palgrave Macmillan Books, in: Ricardo Ffrench-Davis & José Luis Machinea (ed.), Economic Growth with Equity, chapter 9, pages 201-219, Palgrave Macmillan.
    2. Kacef, Osvaldo & Machinea, José Luis, 2007. "Growth and equity: in search of the empty box""," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1936.
    3. Ocampo, José Antonio & Parra, María Angela, 2007. "The dual divergence: growth successes and collapses in the developing world since 1980," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1938, November.
    4. -, 2007. "Economic growth with equity: challenges for Latin America," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1935 edited by Eclac.
    5. Ffrench-Davis, Ricardo, 2005. "Reformas para América Latina después del fundamentalismo neoliberal," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1888 edited by Cepal.
    6. Bonelli, Regis & Pinheiro, Armando Castelar, 2007. "Financial development, growth and equity in Brazil," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1941.
    7. Niklas Potrafke & Fabian Ruthardt & Kaspar Wuthrich, 2020. "Protectionism and economic growth: Causal evidence from the first era of globalization," Papers 2010.02378, arXiv.org, revised Mar 2022.
    8. Jakob B. Madsen, 2009. "Trade Barriers, Openness, and Economic Growth," Southern Economic Journal, John Wiley & Sons, vol. 76(2), pages 397-418, October.
    9. Cagé, Julia & Gadenne, Lucie, 2018. "Tax revenues and the fiscal cost of trade liberalization, 1792–2006," Explorations in Economic History, Elsevier, vol. 70(C), pages 1-24.
    10. Tarlok Singh, 2010. "Does International Trade Cause Economic Growth? A Survey," The World Economy, Wiley Blackwell, vol. 33(11), pages 1517-1564, November.
    11. Stéphane BECUWE & Bertrand BLANCHETON, 2011. "Tariff growth paradox between 1850 and 1913: a critical survey (In French)," Cahiers du GREThA (2007-2019) 2011-24, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    12. Liu, Dan & Meissner, Christopher M., 2015. "Market potential and the rise of US productivity leadership," Journal of International Economics, Elsevier, vol. 96(1), pages 72-87.
    13. Niclas Berggren & Henrik Jordahl, 2005. "Does free trade really reduce growth? Further testing using the economic freedom index," Public Choice, Springer, vol. 122(1), pages 99-114, January.
    14. Moritz Schularick & Solomos Solomou, 2011. "Tariffs and economic growth in the first era of globalization," Journal of Economic Growth, Springer, vol. 16(1), pages 33-70, March.
    15. Nathan Nunn & Daniel Trefler, 2010. "The Structure of Tariffs and Long-Term Growth," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(4), pages 158-194, October.
    16. Sena Kimm Gnangnon, 2017. "The Impact of Multilateral Trade Liberalisation on Economic Development: Some Empirical Evidence," Economic Affairs, Wiley Blackwell, vol. 37(3), pages 397-410, October.
    17. Musila, Jacob W. & Yiheyis, Zelealem, 2015. "The impact of trade openness on growth: The case of Kenya," Journal of Policy Modeling, Elsevier, vol. 37(2), pages 342-354.
    18. Vieira, Flávio & MacDonald, Ronald & Damasceno, Aderbal, 2012. "The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments," Journal of Comparative Economics, Elsevier, vol. 40(1), pages 127-140.
    19. Huy Quang Doan, 2019. "Trade, Institutional Quality and Income: Empirical Evidence for Sub-Saharan Africa," Economies, MDPI, vol. 7(2), pages 1-23, May.
    20. Ola Olsson, 2005. "Geography and institutions: Plausible and implausible linkages," Journal of Economics, Springer, vol. 10(1), pages 167-194, December.

    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:ecr:col014:1939. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Biblioteca CEPAL (email available below). General contact details of provider: https://edirc.repec.org/data/eclaccl.html .

    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.