Rights:
Atribución-NoComercial-SinDerivadas 3.0 España
Abstract:
Capital controls survived in a number of European financial systems until the late 1980s, whereas other countries espoused a much more liberal approach. Why were financial reforms so controversial and controls so hard to dismantle? In the paper the determinantCapital controls survived in a number of European financial systems until the late 1980s, whereas other countries espoused a much more liberal approach. Why were financial reforms so controversial and controls so hard to dismantle? In the paper the determinants of delayed liberalization are empirically investigated for a panel of 16 European countries from 1960 to 1991. We find evidence in favour of a public finance
interpretation of different attitudes towards financial liberalization.[+][-]
Description:
Paper presented at: XIV International Economic History Conference, University of Helsinki, August 2006.