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...

China has been experiencing financial repression for a long time. The main feature of this repression is a regulated interest rate system. This results in private firms’ low likelihood of getting money from the official banking system, and at the same time seeded the emergence of the shadow banks, which introduces uncontrollable risks into the Chinese economy. Also, other policy goals, such as ...

during recent years, a debate has been taking place on the relationship between economic growth and trade policies. the present article explores the impact of trade liberalization on economic growth in islamic countries. we chose a sample of 26 islamic countries and using the gmm method, estimated the correlation between trade liberalization and economic growth for the period 1990-2003. the emp...

This paper provides compelling evidence that equity market liberalization, as the most efficient way to smooth financial market frictions such as credit constraints, can alleviate persistent cross-dynastic income inequality by promoting increased human capital accumulation. The authors examine the effect of equity market liberalization on inequality by using data from 72 countries for 1980–2006...

Financial liberalization should reduce borrowing constraints and increase capital demand according to theory. If production functions exhibit capital-skill complementarity, liberalization should increase the aggregate demand for skilled labor relative to unskilled labor, increasing wage inequality in equilibrium. This paper studies the effects of financial liberalization on inequality through t...

Introduction The Korean crisis in 1997 illustrated again the fact that large capital inflows can be a mixed blessing. Liberalization of the capital account in Korea was associated with massive private capital inflows totaling about $120 billion from 1992 through mid 1997. The reversal of these flows in the second half of 1997 and throughout 1998 was even more dramatic and generated a devastatin...

This paper explores the impact on economies of trade liberalization under alternative regional and multilateral arrangements: unilateral liberalization; liberalization as part of the ASEAN regional grouping; liberalization as part of the APEC regional grouping; or liberalization as part of a multilateral trade liberalization regime. The paper is based on a Dynamic Intertemporal General Equilibr...

This paper investigates the role of structural reforms – privatization, financial reform and trade liberalization– as determinants of FDI inflows based on newly constructed dataset on structural reforms for 19 Latin American and 25 Eastern European countries between 1989 and 2004. Our main finding is a strong empirical relationship from reforms to FDI, in particular, from financial liberalizati...