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Article dans une revue Journal of International Economics Année : 2007

Review of Tornell and Westermann's Boom Bust Cycles and Financial Liberalization

Résumé

Tornell and Westermann analyze boom-bust cycles in the developing world and discuss how these cycles are generated by credit market imperfections. They explain why the financial liberalization that allows countries to overcome imperfections impeding rapid growth also generates the financial fragility that leads to greater volatility and occasional crises. The conceptual framework they present illustrates this linkage and allows Tornell and Westermann to address normative questions regarding liberalization policies.
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Dates et versions

hal-00612648, version 1 (29-07-2011)

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Jean Imbs. Review of Tornell and Westermann's Boom Bust Cycles and Financial Liberalization. Journal of International Economics, 2007, 71 (2), pp.515-525. ⟨10.1016/j.jinteco.2006.09.002⟩. ⟨hal-00612648⟩
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