Abstract: One of the chief benefits of financial liberalization proposed by theoretical literature is that it should allow countries to better smooth consumption through international risk sharing.

In countries with weak or embryonic financial systems, both the pace of capital account liberalization and the design of prudential measures become more complex. Local financial institutions may have ...

Liberalization of the business environment is the best anti-crisis measure, said Russian Prime ... including possible financial responsibility, to provide greater decision-making transparency ...