DOMESTIC FINANCIAL MARKET AND THE TRADE LIBERALIZATION OUTCOME - EVIDENCE FROM SRI-LANKA

被引：4

作者：

ATHUKORALA, P ^{[1
]}

RAJAPATIRANA, S ^{[1
]}

机构：

[1] WORLD BANK,WASHINGTON,DC 20433

来源：

WORLD DEVELOPMENT | 1993年 / 21卷 / 07期

关键词：

D O I：

10.1016/0305-750X(93)90008-W

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

This paper develops a framework for analyzing the role of financial sector policies in determining the outcome of trade liberalization and applies it to Sri Lanka's experience during 1977-87. It is found that financial liberalization complements trade liberalization on both demand and supply sides. On the demand side, interest rate deregulation affords opportunities for those earning increased income from a trade liberalization to hold financial assets as alternatives to nontradables. This facilitates economic adjustment in the trade liberalization context by preventing a premature appreciation of the exchange rate. On the supply side, financial reform augments loanable funds and facilitates their reallocation into private sector investment stimulated by trade liberalization.

引用

页码：1191 / 1203

页数：13

共 32 条

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