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Financial fragility: is it rooted in the development process? An examination with special reference to the South Korean experience

In: Neo-Liberal Economic Policy

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  • Santonu Basu

Abstract

Over the past two decades there has been a prevailing shift in economic policy in many countries. This reflects the continuing rise of neo-liberalism – the doctrine that economic policy should ‘leave it to the market’ and that governments should retreat from market intervention. This book provides a balanced and comprehensive appraisal of these important policy developments. The authors examine the most notable trends in neo-liberal economic policy such as the withdrawal from the use of fiscal measures and the reliance on monetary policy. They discuss the neo-liberal view that the causes of unemployment lie in the operation of the labour market, in particular its inflexibility. They also assess the increasing inclination towards the liberalisation and deregulation of markets, most notably financial markets.

Suggested Citation

  • Santonu Basu, 2004. "Financial fragility: is it rooted in the development process? An examination with special reference to the South Korean experience," Chapters, in: Philip Arestis & Malcolm Sawyer (ed.), Neo-Liberal Economic Policy, chapter 3, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3393_3
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    Cited by:

    1. Sushanta Mallick, 2006. "Policy instruments to avoid output collapse: an optimal control model for India," Applied Financial Economics, Taylor & Francis Journals, vol. 16(10), pages 761-776.
    2. Santonu Basu, 2006. "Structural Problems in Financing Development: Issues Relating to India," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(1), pages 85-101.

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    Keywords

    Economics and Finance;

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