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process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality, and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable inherent tensions in evaluating the risks and benefits associated with financial globalization. In the light of these …
Persistent link: https://www.econbiz.de/10014025737
This paper examines how the 1990s capital account liberalization policy trend affected international capital flows, and tests a new hypothesis that the depth and efficiency of the domestic financial system impacts the efficacy of capital account policy. The paper exploits a recently published...
Persistent link: https://www.econbiz.de/10012897462
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these …
Persistent link: https://www.econbiz.de/10010269041
liberalisation during the nineteenth and early twentieth century, and of its demise after World War I. Not everyone gained from the … economy and the distribution of income in nations across the world. This paper explores how the economic incentives generated … financial integration. The period before World War I is remarkable by the almost absence of restrictions on cross-border capital …
Persistent link: https://www.econbiz.de/10013108959
We revisit the effects of globalisation over the past 50 years in a large sample of advanced and emerging countries. We use accessions to \Globalisation Clubs" (WTO, OECD, EU), financial liberalisation and an instrument for trade openness to study the trade-off between efficiency (proxied by...
Persistent link: https://www.econbiz.de/10012511089
Persistent link: https://www.econbiz.de/10003961158
Persistent link: https://www.econbiz.de/10003808063
process of financial globalization. Our central findingsindicate that policies promoting financial sector development …, institutional quality and tradeopenness appear to help developing countries derive the benefits of globalization. Similarly … unavoidabletensions inherent in evaluating the risks and benefits associated with financial globalization.In light of these tensions …
Persistent link: https://www.econbiz.de/10009360650
We investigate whether the globalization process of the last thirty years has lead to “convergence” of asset prices in … globalization on the convergence of asset prices, even though we document some links. In particular, financial openness matters …
Persistent link: https://www.econbiz.de/10013134318
This paper will propose a plan to reform international finance – the World Financial Authority (WFA) Plan. Under such a … effective, regaining traction and preventing contagion. A central instrument to this end is the creation of the World Financial … surrendered to the WFA by member countries. The WFA is being thought as a device to support the financial globalization, as well …
Persistent link: https://www.econbiz.de/10013095450