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发展中国家应当放开金融市场——但不可操之过急,急于求成。 在70年代到80年代初期,某些发展中国家放松金融管制政策的失败,使得人们怀疑它对经济发展的促进作用,阿根廷,智利和乌拉圭放松了利息率和外汇管制,导致实际利率大幅度升高,经济陷入一片混乱,并且爆发了债务危机。而如今在亚洲,东欧和俄罗斯等国,放松金融管制又被重新提上了议程。
Developing countries should liberalize their financial markets - but they should not rush too quickly to rush for success. In the 1970s and early 1980s, the failure of some developing countries to loosen monetary control policies made them doubt its contribution to economic development. Argentina, Chile and Uruguay relaxed interest rates and foreign exchange controls, resulting in a substantial rise in real interest rates High, the economy plunged into chaos and a debt crisis erupted. And now in Asia, Eastern Europe and Russia, the relaxation of financial regulation has been re-put on the agenda.