What's Wrong with International Financial Markets?

Fernández Arias, Eduardo; Hausmann, Ricardo

dc.creator	Fernández Arias, Eduardo
dc.creator	Hausmann, Ricardo
dc.date	2011-02-04T21:21:27Z
dc.date	2011-02-04T21:21:27Z
dc.date	2000-08-01
dc.date	2000-08
dc.date	2014-08-29T09:19:01Z
dc.date.accessioned	2014-09-08T23:07:54Z
dc.date.available	2014-09-08T23:07:54Z
dc.date.issued	2014-09-08
dc.identifier	http://www.iadb.org/en/publications/publication-detail,7101.html?id=6262
dc.identifier.uri	https://saber.ucab.edu.ve/xmlui/handle/123456789/15641
dc.description	Recent financial crises and contagion call into question the wisdom of capital account liberalization. There is consensus that something is terribly wrong in the way international financial markets work for developing countries and that fixing is urgent. But what is wrong? Most views in developed countries identify the problems with too much capital flows, attracted by moral hazard. However, our analysis shows that the role of this distortion is being grossly exaggerated and that, in contrast, the main distortions in international financial markets are associated with capital flows being too little, restricted by sovereign risk, and too volatile because of market failures.
dc.format	27
dc.format	ACROBAT
dc.language	en
dc.relation	Working Paper Series; 429
dc.subject	Setor Financeiro
dc.subject	Financial Sector
dc.subject	Sector financiero
dc.subject	capital market
dc.subject	international finance
dc.subject	WP-429
dc.title	What's Wrong with International Financial Markets?
dc.type	Working Papers