In conclusion, I found the book to be an extremely informative read and one that provides a unique perspective on the controversies surrounding financial liberalization in developing countries. The authors do a service to the profession by documenting key stylized facts to inform the debate. In doing so, the authors make the important point that countries that undertook financial liberalization grew faster than those that did not. The authors pursue a laudable goal in trying to disentangle the asymmetries in the sectoral responses to financial liberalization and generating both booms and busts within a unified theoretical framework. I recommend this book as a must-read for graduate students and researchers in international and development economics.
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