Description - Capital Flows and Crises by Barry Eichengreen
The implications of capital mobility for growth and stability are some of the most contentious and least understood contemporary issues in economics. In this book Barry Eichengreen discusses historical, theoretical, empirical, and policy aspects of the effects, both positive and negative, of capital flows. He focuses on the connections between capital flows and crises as well as on those between capital flows and growth. Eichengreen argues that international financial liberalisation, like other forms of economic liberalisation, can positively affect the efficiency of resource allocation and the rate of economic growth. But analyses of both recent and historical experience also show an undeniable association between capital mobility and crises, especially when domestic institutions are weak and the harmonisation of capital account liberalisation and other policy reforms is inadequate. In his conclusion, Eichengreen makes suggestions for policy design to maximise the benefits of international financial liberalisation while minimising the risks of financial instability.
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(229mm x 178mm x 19mm)
Publisher: MIT Press Ltd
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Book Reviews - Capital Flows and Crises by Barry Eichengreen
Author Biography - Barry Eichengreen
Barry Eichengreen is George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley. He is the author of European Monetary Unification (MIT Press, 1997).