Abstract
Over the last twenty years or so financial liberalisation has become a key component of the reform process. Countries in Latin America, Asia and Europe have endeavoured to liberalise their financial systems, generally moving from financially-repressed regimes1 to systems in which interest rates have become free or liberalised and credit is allocated according to market criteria. This liberalisation marks a dramatic change from postwar thinking, which was characterised by controlled interest rates and strong government intervention in the allocation of financial savings.
Keywords
Monetary Policy Real Exchange Rate Banking Crisis Economic Liberalisation Financial Liberalisation
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Copyright information
© Soumitra Sharma 1995