This book examines the impact of capital market liberalization and finds that it has created much economic instability and has failed to deliver on the promise of increased growth. Blecker concludes that a better architecture must include policies such as regulating capital flows, reforming the IMF, stabilizing exchange rates, and coordinating macroeconomic policies.
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Robert A. Blecker is a professor of economics at American University and a research associate of the Economic Policy Institute (EPI), both in Washington, D.C. Professor Blecker has published several reports and books for EPI, including Are Americans on a Consumption Binge? (1990), Beyond the Twin Deficits (1992), and an edited volume on U.S. Trade Policy and Global Growth (1996). His articles have been published in a variety of scholarly journals and edited books. He is also a co-author of the college text, Fundamentals of U.S. Foreign Policy (with Stephen D. Cohen and Joel R. Paul, 1996). Dr. Blecker's research interests include international capital mobility, growth and distribution in open economies, North-South trade and economic development, U.S.-Latin American economic integration, and U.S. trade policy. He holds a B.A. in economics from Yale University and a Ph.D. in economics from Stanford University.
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