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Introduction

  • Abdullahi Dahir Ahmed
  • Sardar M. N. Islam
Chapter
Part of the Contributions to Economics book series (CE)

Abstract

The financial system, both domestic and international, is undergoing rapid, complex and fundamental transformation. A very important transformation, which is enormously controversial as well, is financial liberalization. The process has created uncertainties and confusion amongst policy makers and raised important issues that need to be better understood and resolved. Some of these issues are summarised below as an introduction to the debate about financial liberalization.

International financial integration, financial globalization, financial capital market regulation, financial crisis and international financial contagion, and the issues of financial liberalization/financial repression are some of the important contemporary topics in the field of international finance and development economics. Issues more specific to financial liberalization debate are financial repression, capital control, risk management, moral hazard, asymmetric information, financial instability and systemic risk and dysfunctionalities in the financial system (Hansanti, Islam and Sheehan, 2008; Stiglitz, 1994).

Keywords

Interest Rate Monetary Policy Financial Crisis Financial System Commercial Banking 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2010

Authors and Affiliations

  1. 1.Centre for Strategic Economic Studies CSESVictoria UniversityMelbourneAustralia

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