Decomposing the Effects of Financial Liberalization: Crises vs. Growth
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We present a new empirical decomposition of the effects of financial liberalization on economic growth and on the incidence of crises. Our empirical estimates show that the direct effect of financial liberalization on growth by far outweighs the indirect effect via a higher propensity to crisis. We
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美国国家经济研究局创建时间：
2006-12-01
