transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …Financial globalization has gathered attention since the early 1990s because of its macro-financial implications and … growing importance. But financial globalization has taken shape via different forms over time. This paper examines two …

This paper computes a new financial globalization index for a large sample of countries for 1992-2016. Unlike other … measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward … adjustment of financial globalization trends for developed, emerging, and frontier markets. The paper also shows that financial …

The authors present a framework to analyze financial globalization. They argue that financial globalization needs to …, flexible exchange rate regime, and sound contractual and regulatory environment) can integrate successfully into the world …

Since the 1970s, the world has embarked on a new financial globalization era. Cross-country capital flows have … significantly increased in developed and developing countries. However, the characteristics of financial globalization differ from … financial globalization (such as additional funding, broad diversification, and deeper financial systems), the positive effects …

bond markets. The evidence shows that integration with world financial markets has uneven effects. On the one hand, debt …

Despite a trend toward more flexible rates, more than half the world's countries maintain fixed or managed exchange … its integration into the world trading community. In fact, and overvalued exchange rate is often the root cause of … protection, preventing the country from returning to more liberal trade policies that allow growth and integration into the world …