Terrones, Marco; Kose, M. Ayhan; Prasad, Eswar - International Monetary Fund (IMF) - 2007
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … groups of countries and examines how international financial integration has affected the evolution of these patterns. Using … a variety of empirical techniques, we conclude that there is at best a modest degree of international risk sharing, and …