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Capital Market Liberalization

Task Force Chairs

  • José Antonio Ocampo
    Professor of International and Public Affairs
    School of International and Public Affairs
    Columbia University
  • Joseph Stiglitz
    Initiative for Policy Dialogue

Despite a lack of evidence, capital market liberalization was pushed forward by the IMF during the 1980s and 1990s as a means of stimulating economic growth in developing countries. The Asian economic crisis and the recent global financial crisis of 2008-2009 illustrated the importance of understanding the deeper role of capital market liberalization in the globalization debate. IPD's Capital Markets Liberalization Task Force aims to build a comprehensive and balanced view of alternative approaches to capital market liberalization by questioning conventional assumptions linking liberalization to growth and stability, while weighing the costs and benefits of different policy interventions.

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