Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - In: Journal of Development Economics 89 (2009) 2, pp. 258-270
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. In this paper, we provide an empirical evaluation of the patterns of risk sharing among different groups of countries and examine how international financial...