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Financial crises and the dynamics of financial de-liberalisation

Blogs.lse,  (2019), “Financial crises and the dynamics of financial de-liberalisation”, June

Financial crises play a key role in changing existing policies concerning financial markets and institutions. Orkun Saka, Nauro Campos, Paul De Grauwe, Yuemei Ji and Angelo Martelli provide new evidence for the negative impact of financial crises on the process of financial liberalisation. They also show that such interventions are only temporary and that the liberalisation process restarts quickly after a financial crisis. These results support the view that governments use short-term policy reversals as a tool to ease crisis pressures.

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