CAIRN-INT.INFO : International Edition

40 Years of Financial Liberalization

Page 9 to 20

The Diversity of Motivations and Forms of Financial Liberalization

Page 23 to 34
Page 35 to 48
Page 49 to 64

The Tranformations of the Financial System Agents

Page 67 to 88
Page 89 to 108
Page 109 to 128

The Evolutions of the Non Financial Agents Behaviour

Page 131 to 139
Page 141 to 158
Page 159 to 172
Page 173 to 185

Return of Crisis and New Regulations

Page 189 to 199
Page 201 to 218
Page 219 to 244

Which Limits to the Capital Flows Freedom?

Page 247 to 268
Page 269 to 298
Page 299 to 327

Financial History Chronicle

Page 329 to 336


Page 339 to 357

For the financial sector, the late 1970s and early 1980s represented a period of important change. Financial deregulation, which began in the United States and the United Kingdom and then spread to most other economies, did away with many regulations that had placed limits on the financial system. These reforms aimed to increase the proportion of market-based financing and promised to better allocate savings in order to promote growth. This issue of the Review proposes, forty years later, to assess this liberalization. The first two sections are devoted to the differing reasons behind this movement and the forms it took in the main economies, as well as the changes in the behavior of the various economic agents that it led to. A third section deals with financial crises, which have become more frequent, and the new regulations that have been put into place to limit their manifestations and effects. Finally, a fourth section is devoted to the specific impacts of these reforms on international capital flows. Ultimately, each reader will be able to appreciate for themselves the benefits and ravages of liberalization.

The column on financial history is devoted to a new look at the banking crises in France during the Great Depression of the 1930s. Finally, another article proposes reviewing the twin US deficits in the current context of its economy.

This journal aims to be an instrument of dialogue between academics, researchers and professionals in finance and banking. It aims to contribute to the discussion and reflection that are essential for the cohesion of the financial and banking professions. Read more...
Uploaded on on 16/11/2020
ISBN 9782376470427
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