ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Two Discourses Financial Liberalisation Happened

Social policy abhors extremes. In response to unbending opposition to financial repression there is now a counter-position. It is argued that financial repression may be desirable, financial subsidies may be more effective than direct subsidies and various financial market failures may justify some intervention. All these arguments are certainly valid in particular periods and countries. The question people must ask themselves is whether they are likely to be so with the particular political regime and set of financial institutions and entrepreneurs with whom they actually find themselves endowed.

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