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LIST OF CONTENT
Chapters Page
Chapter
I Introduction I
1.1 The Country 1
1.2 From a Monocrop Economy
to Financial Liberalisation 2
1.3 Rationale for the Research and Objectives 7
1.4 Research Questions 8
1.5 Research Method 9
1.6 Structure
of the Thesis 12
Chapter 2 Literature Review. Financial Liberalisation: Basic Theoretical 16
Frameworks
2.1 Introduction to the Debate 16
2.2 Pre-Liberalisation Period: Low-Interest Policy 21
2.3 The Me Kinnon and Shaw Paradigm (Financial Liberalisation) 33
2.4 Some Empirical Evidence 44
2.5 Extensions of the Me Kinnon and Shaw Framework 47
2.5.1. Kapur's Model of Liberalisation 47
2.5.2 The Galbis Model 51
2.5.3 Open Economy with Capital Mobility: The Mathieson Model 54
and Keynesian Reservations.
2.6 Summary
V
62