International financial markets: Control or liberalization? |
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Authors: | Gerhard Maier |
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Institution: | 1. Deutscher Sparkassen- und Giroverband, Bonn, West Germany
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Abstract: | Exchange rates, interest rates and share prices are subject—at least occasionally—to great fluctuations. Diverse economists
regard the volatility of international financial markets as a threat to the goods and labour markets. They blame the price
turbulences on the speculative behaviour of a large section of market participants, and claim that the deregulation and liberalization
of the international financial markets in the eighties has therefore already gone too far. Under discussion today are approaches
to a re-regulation of the money, capital and foreign exchange markets. These proposals are evaluated in the following paper. |
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