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(such as managing disrupted capital flows and deleveraging), and provide insights from the growth strategies of Russia and …
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led to its spread to the rest of the world. On the theoretical side, we show that capital flows to the United States in …
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There is no agreement regarding the growth-enhancing effects of financial liberalization, mainly because it is associated with risky international bank flows, lending booms, and crises. In this paper we make the case for liberalization despite the occurrence of crises. We show that in developing...
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