The Open Economy and Its Financial Constraints
This title explores the role of money and finance in an open economy. The existence of money and global financial flows compound the likelihood of financial constraints, in particular, financial vulnerability, financial exclusion and financial fragility and create the possibility of unemployment in open economies. Hawkins focuses on financial openness and contends that while vulnerable economies can benefit from long-term international capital, greater financial exposure makes them increasingly susceptible to the crises associated with financial withdrawls. The author explores in detail the 030eriences of South Africa, Brazil and Thailand and finds that the consequences of financial liberalization remain uncertain. She examines the rationale behind the distribution of credit within and between countries, and goes on to construct a financial vulnerability index as an empirical mechanism to rank nations according to their vulnerability to the withdrawal of international financial flows.
What people are saying - Write a review
We haven't found any reviews in the usual places.