“…According to some experts, the financial meltdown has exposed the shortcomings of liberalisation economic strategies (Kose et al, 2006;Goldberg & Veitch, 2010;Agbloyor et al, 2013;Asongu, 2014;Kose et al, 2011). In essence, emerging economies that experienced considerable inflows of capital during the past decades have been confronted with the challenging task of managing any consequential external shocks, which may be exacerbated by financial liberalisation, when those financial flows contract.…”