Using Rawls's theory of justice, this paper addresses the empirical question of whether the socially responsible market economy can help explain the current situation in financial freedom, as well as its recent variation across countries. Utilizing annual data from selected countries of Middle East, North Africa, Asia and Oceania, and static panel estimation techniques, we provide evidence whic...

Buckley & Strange (2015) have highlighted the major changes in the global location of economic activity over the past 30 years, with the emerging economies assuming greater shares relative to the advanced economies. They noted that the major drivers of these changes included inter alia economic restructuring and market liberalization in many countries in Asia, Eastern Europe and elsewhere; fina...

Contrary to the predictions of standard economic theory, capital market liberalization has been a mixed blessing for many countries. Liberalization of debt inflows exposes economies to the risk of crises stemming from sudden changes in investor sentiment. Equity market liberalizations, on the other hand, have promoted growth in almost every liberalizing country. Yet equity market liberalization...

The emergence of economic crises has forced countries to reform the development strategy with a view to improving economic management. The intervention of governments in the free functioning of the market to reduce social problems by paying subsidies in general and fixing prices have a lot of problems Which makes the information provided by the companies unrealistic and unviable. The most impor...

The surge in capital flows towards emerging market countries is one of the major developments in the world economy in the 1990s. In particular, short-term flows, in the form of portfolio investments or bank loans, have grown at an extremely rapid pace. At the same time, emerging markets have experienced an increasing number of financial crises, with dire consequences. It is increasingly argued ...

From the 1970s, emerging countries embarked on financial liberalization policies with a view to promoting growth. However, these can have adverse effects stability of banking systems. The central hypothesis this article is that their impact system largely depends modalities liberalization. analysis focuses sample seventeen over period 1990-2012. interest it allows not only analyze causes crisis...