Liberalization, Growth, and Financial Crises: Lessons from Mexico and the Developing World

By A. Tornell, Frank Westermann, Lorenza Martínez. 2003

112 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/834f83c74304cef4690c1be34698218b12cd502e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Graciela L. Kaminsky
2. S. Schmukler

In Finance

1. S. Schmukler
2. Graciela L. Kaminsky
3. Kristin J. Forbes
4. Enrique G. Mendoza

Citations in the corpus

• How Has NAFTA Affected the Mexican Economy? Review and Evidence (2004, unknown): “Tornell, Westermann, and Martinez (2003) compare Mexico’s recent growth performance with those of several other emerging market economies that liberalized trade and financial flows in the early 1980s.”
• Financial Globalization: Gain and Pain for Developing Countries (2003, unknown): “Furthermore, Tornell, Westermann, and Martinez (2003) show that financial liberalization leads to higher average long-run growth even though it also leads to occasional crises.”
• Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles (2007, background): “Naturally, as argued in Tornell and Westermann (2005), these distortions are more prevalent in emerging markets, suggesting that financial liberalization triggers more lending cycles and asset price bubbles in these economies than in mature financial markets.”