Authors such as McKinnon (1993), McKinnon and Pill (1996), and Diaz-Alejandro (1988) have long cautioned about the perils of overly-rapid financial liberalization in emerging markets, but few have taken heed of their advice.
Authors such as McKinnon (1993), McKinnon and Pill (1996), and Diaz-Alejandro (1988)have long cautioned about the perils of overly-rapid financial liberalization in emerging markets,but few have taken heed of their advice.