Gallagher in The Week on Emerging Markets
Kevin Gallagher, Professor of Global Development Policy and Director of the Global Development Policy Center at the Frederick S. Pardee School of Global Studies at Boston University, was recently interviewed for an article on emerging markets.
Gallagher was quoted in an article in The Week entitled “How to Keep Your Emerging Market Out of Turmoil, With 1 Handy Tool.“
From the text of the article:
“It was a combination of economic thinking and interest group politics,” Kevin Gallagher, a professor of global development policy at Boston University, told The Week. The sea change brought by free market thinking convinced many economists that wealthy investors collectively made better investment decisions than government bureaucracies. Therefore “countries should worry about keeping foreign investors happy,” as Mason put it.
Ongoing research by economists also dismantled the free market justification for eliminating capital controls: It turns out most global investors just don’t have the information they need for unrestrained global financial markets to actually make efficient and useful investment decisions. “There are actually really elegant neoclassical all-math papers that show that regulations of capital flows make an economy better off rather than distort it,” Gallagher said.
Gallagher served on the U.S. Department of State’s Investment Subcommittee of the Advisory Committee on International Economic Policy and the International Investment Division of the United Nations Conference on Trade and Development. He has served as a visiting or adjunct professor at the Paul Nitze School for Advanced International Studies at Johns Hopkins University, the Fletcher School of Law and Diplomacy, Tufts University; El Colegio de Mexico in Mexico; Tsinghua University in China; and the Center for State and Society in Argentina. You can follow him on Twitter @KevinPGallagher.