Désindustrialisation et crise financière dans une économie émergente

We study the effect of capital account liberalization using the model of a small open economy with two sectors. Capital inflows lead to a real appreciation in the short run and to a displacement of production toward non-tradable goods in the long run. We show to what condition this deindustrialization can lead to financial fragility by making self-fulfilling financial crises possible.

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Year of publication:	2005
Authors:	Kalantzis, Yannick
Published in:	Revue économique. - Presses de Sciences-Po. - Vol. 56.2005, 3, p. 777-785
Publisher:	Presses de Sciences-Po

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Extent:	application/pdf text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008578915