Can I read Boom-Bust Cycles and Financial Liberalization (CESifo Book Series) on EtoBox?

Boom-Bust Cycles and Financial Liberalization (CESifo Book Series) by Aaron Tornell and Frank Westermann is a nonfiction available to read on EtoBox.

What is Boom-Bust Cycles and Financial Liberalization (CESifo Book Series) about?

Analysis and evidence of how the factors that give rise to boom-bust cycles in fast-growing developing economies also enhance long-run growth. The volatility that has hit many middle-income countries (MICs) after liberalizing their financial markets has prompted critics to call for new policies to stabilize these boom-bust cycles. But, as Aaron Tornell and Frank Westermann point out in this book, over the last two decades most of the developing countries that have experienced lending booms and busts have also exhibited the fastest growth among MICs. Countries with more stable credit growth, by contrast, have exhibited, on average, lower growth rates. Factors that contribute to financial fragility thus appear, paradoxically, to be a source of long-run growth as well. Tornell and Westermann analyze boom-bust cycles in the developing world and discuss how these cycles are generated by credit market imperfections. They explain why the financial liberalization that allows countries to overcome imperfections impeding rapid growth also generates the financial fragility that leads to greater volatility and occasional crises. The conceptual framework they present illustrates this linkage an

Who reads Boom-Bust Cycles and Financial Liberalization (CESifo Book Series)?

Author

Aaron Tornell and Frank Westermann

Publisher

MA : MIT Press

Published

2006

Language

EN

ISBN

9780262201599

Category

nonfiction

Subjects

Economics, Finance, Business