The order of economic liberalization : financial control in the transition to a market economy / Ronald I. McKinnon.

By:

McKinnon, Ronald I

Material type: Text

TextSeries: Johns Hopkins studies in developmentPublication details: Baltimore : Johns Hopkins University Press, c1993.Edition: 2nd edDescription: xii, 242 p. : ill. ; 24 cmISBN:

0801847427

Subject(s):

DDC classification:

332.4947 MCK

Online resources:

Contents:

Introduction : the order of economic liberalization Financial repression and the productivity of capital : empirical findings on interest rates and exchange rates High real interest rates : Japan and Taiwan versus Chile Instruments of financial repression Inflation tax, monetary control, and reserve Requirements on commercial banks Macroeconomic control during disinflation : Chile versus South Korea Macroeconomic instability and moral hazard in banking Protectionism in foreign trade : quotas versus tariffs Exchange-rate policy in repressed and open economies The international capital market and economic liberalization : the overborrowing syndrome Stabilizing the ruble : financial control during the transition from a centrally planned to a market economy Foreign trade, protection, and negative value-added in a liberalizing socialist economy Financial growth and macroeconomic stability in China, 1978-1992 : implications for Russia and Eastern Europe Gradual versus rapid liberalization in socialist foreign trade : concluding notes on alternative models

Summary: Financial control and macroeconomic stability, McKinnon argues, are more critical to a successful transition than is any crash program to privatize state-owned industrial assets and the banking system.

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Holdings
Item type	Current library	Home library	Call number	Copy number	Status	Date due	Barcode	Item holds
Book	Mzumbe University Main Campus Library	Mzumbe University Main Campus Library	332.4947 MCK (Browse shelf(Opens below))	1	Available		0044111

Total holds: 0

Includes bibliographical references and index.

Introduction : the order of economic liberalization
Financial repression and the productivity of capital : empirical findings on interest rates and exchange rates
High real interest rates : Japan and Taiwan versus Chile
Instruments of financial repression
Inflation tax, monetary control, and reserve
Requirements on commercial banks
Macroeconomic control during disinflation : Chile versus South Korea
Macroeconomic instability and moral hazard in banking
Protectionism in foreign trade : quotas versus tariffs
Exchange-rate policy in repressed and open economies
The international capital market and economic liberalization : the overborrowing syndrome
Stabilizing the ruble : financial control during the transition from a centrally planned to a market economy
Foreign trade, protection, and negative value-added in a liberalizing socialist economy
Financial growth and macroeconomic stability in China, 1978-1992 : implications for Russia and Eastern Europe
Gradual versus rapid liberalization in socialist foreign trade : concluding notes on alternative models

Financial control and macroeconomic stability, McKinnon argues, are more critical to a successful transition than is any crash program to privatize state-owned industrial assets and the banking system.

eng.

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