The accumulated experience of emerging markets over the past two decades has laid bare the tenuous links between external financial integration and faster growth, on the one hand, and the proclivity of such integration to fuel costly crises on the other. These crises have not gone without learning. During the 1990s and 2000s, emerging markets converged to the middle ground of the policy space defined by the macroeconomic trilemma, with growing financial...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2011/08/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5786
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1
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1
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2011/08/01
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Disclosed
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Managing financial integration and capital mobility -- policy lessons from the past two decades
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financial integration