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ToolsHartwell, C. A., 2016. If You’re Going Through Hell, Keep Going: Nonlinear Effects of Financial Liberalization in Transition Economies. Emerging Markets Finance and Trade, 53 (2), 250 - 275.
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DOI: 10.1080/1540496X.2016.1180284
Abstract
Copyright © Taylor & Francis Group, LLC. Did increasing the level and pace of financial liberalization during transition expose countries to crises? And if a crisis did strike, did liberalization do more harm or good? Using a database of 28 transition economies over 22 years, this article examines these questions across a host of economic outcomes, including savings and the size of the private sector. The results provide evidence that, while liberalization may initially increase the probability of a crisis, the prospect of a crisis drops dramatically at higher levels of financial openness. Moreover, the benefits of liberalization across several metrics outweigh the risks of these intermediate stages.
| Item Type: | Article |
|---|---|
| ISSN: | 1540-496X |
| Group: | Bournemouth University Business School |
| ID Code: | 30637 |
| Deposited By: | Symplectic RT2 |
| Deposited On: | 30 Apr 2018 15:42 |
| Last Modified: | 14 Mar 2022 14:10 |
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