What's Wrong with International Financial Markets?

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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

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