Globalisation and monetary policy in emerging markets (original) (raw)

This research investigates the evolution of monetary policy and financial integration in Chile over a span of thirty years, particularly focusing on the impacts of liberalising financial markets and opening the capital account. It highlights the dual benefits and risks associated with financial integration, emphasizing the institutional frameworks designed to mitigate potential vulnerabilities. The paper reviews historical policy frameworks, analyzes the effectiveness of Chile's current macroeconomic stability measures, and presents empirical evidence on the degree and characteristics of financial integration.