MMT in the periphery: what are the limits to the policy space of emerging economies?
what are the limits to the policy space of emerging economies?
Abstract
This note takes as a starting point the article ‘The failures of Modern Money Theory’ (MMT) - authored by Ricardo Carneiro and published in this issue of the BKR- to explore the limitations of MMT in the analysis of the policy space of the peripheral countries that joined financial globalisation in the early 1990s, becoming emerging market economies.
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