The mixed success of financial liberalization has set off a lively debate about what Japan gains, or loses, from protecting its financial markets.

Soon after, the authorities made a virtue of a necessity, embracing financial liberalization.

Globalizers' tasks included privatization, deregulation, fiscal austerity and financial liberalization.

When Larry Summers goes to China, they'd laugh in his face if he tried to instruct them on the virtues of financial liberalization.

However, given financial liberalization and resulting capital mobility, arbitrage temporarily became possible until equilibrium was restored.

But it was American officials who pushed for the financial liberalization that nurtured the speculation (even if developing nations themselves welcomed it).

Moreover, the process of financial liberalization in Japan has been gradual and therefore a simple (0, 1) dummy variable will not suffice.

While the Government is turning to financial liberalization to help ease its economic difficulties, such measures in the past probably contributed to the problem in some respects.

Speaking of the risks of financial liberalization without modern banking and legal systems, he compared them to "building a skyscraper with no foundation."

Mr. Stiglitz was warning about the need for slower pacing of financial liberalization abroad, but nobody listened.