%0 Journal Article
%T Emerging Economies Faced With The Downside Of Financial Globalization: Hedges And Way Outs
%A Sorin BURNETE
%J Review of Economic and Business Studies (REBS)
%D 2009
%I Alexandru Ioan Cuza University of Iasi
%X The underlining assumption of this paper is that developing countries are in a fragile state nowadays. Economically, they have been seriously harmed by the 2008 crisis1 but this is not the end of the story: the future still has pitfalls in which these economies might get trapped, due to their enhanced vulnerability to exogenous shocks generated by financial globalization. Ideologically, the recent events have triggered a serious backlash against capitalism, particularly the Anglo-Saxon template. Getting an insight into the causes and implications of global economic crises is therefore critical for policy-makers in emerging economies. History might be a good adviser in this respect. Lessons from the past are even more important for ex-communist nations, whose confidence in capitalism¡¯s potential is still shaky. Some of the possible hedges against and/or way outs from such scourging events are discussed in the paper.
%K financial globalization
%K money mercantilism
%K currency crises
%K international reserves
%K speculative attacks
%K capital controls
%K regulation
%U http://rebs.ro/resource/REBS_3/Research%20Paper/Sorin_BURNETE_-_Emerging_Economies_Faced_With_The_Downside_Of_Financial_Globalization.pdf