Die überraschend schnelle wirtschaftliche Erholung der asiatischen Krisenländer (Indonesien, Korea, Malaysia, die Philippinen und Thailand) ging mit makroökonomischen Anpassungsmaßnahmen und strukturellen Reformen im Finanz- und Unternehmenssektor einher. Gleichwohl unterscheiden sich die...

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

Since the mid-1980s a profound change of direction in the structural policies of the region has taken place. The development model based on protecting national markets and state intervention was replaced by a set of policies aimed primarily at seeking to improve efficiency, facilitate the...

A near-ubiquitous concept in legal debates on contemporary approaches to market regulation and reform, liberalisation broadly speaking involves a transition from controlled to competitive markets. Yet for many, liberalisation implies not merely practical processes and legal instruments of...

I use a large cross country data set and panel probit analysis to investigate the way in which the interaction between trade and financial openness affect the probability of external crises. This analysis is related to debate on the adequate sequencing of reform. I also investigate the role...