Financial crises of the last two decades raised doubts about the potential benefits from liberalization policies for emerging markets. As liberalized economies became exposed to the whims of international capital flows, new opportunities for disruptive speculative financial activity emerged, leading to heightened systemic instability, with implications for private non-financial investment. This book analyzes the consequences of financial liberalization on the investment decisions of private manufacturing firms in the Turkish economy. Changing conditions of liquidity and uncertainty in the...
Financial crises of the last two decades raised doubts about the potential benefits from liberalization policies for emerging markets. As liberalized ...