Weighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization, understood and promoted as absolute freedom for all forms of capital, has been oversold to the Global South, and that the South should be as selective about globalization as the North. 'Liberalization, Financial Instability and Economic Development' challenges the orthodoxy on the link between financial deepening and economic growth, as well as that between the efficiency of financial markets and the benefits of liberalization. Ultimately, the author urges developing countries to control capital flows and asset bubbles, preventing financial fragility and crises, and recommends regional policy options for managing capital flows and exchange rates.

A serious evaluation of economic interdependence in a finance-driven world from a development perspective, offering national and regional policy options to help the Global South improve its control over its own economic space.

About the Author

Yilmaz Akyuz is chief economist at the South Centre, an intergovernmental think tank for developing countries based in Geneva, Switzerland.

Reviews

"Yilmaz Akyuz is one of the most innovative thinkers in development economics whose insights have contributed to a much richer understanding of the opportunities and challenges of globalization in developing countries. At a time of increasing global instability, if we fail to listen to his advice, we do so at our own peril." -Diego Sanchez-Ancochea, University of Oxford

Book Information
ISBN 9781783082629
Author Yilmaz Akyuz
Format Paperback
Page Count 338
Imprint Anthem Press
Publisher Anthem Press
Weight(grams) 454g
Dimensions(mm) 229mm * 153mm * 26mm