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The Elusive Gains From International Financial Integration
Gourinchas, Pierre-Olivier; Jeanne, Olivier - International Monetary Fund (IMF) - 2004
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
Persistent link: https://www.econbiz.de/10005605034
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Financial Integration and Risk-Adjusted Growth Opportunities
Ivaschenko, Iryna V.; Nicoló, Gianni De - International Monetary Fund (IMF) - 2008
integration and improved real prospects are mutually reinforcing. Third, financial integration predicts globalization but the …
Persistent link: https://www.econbiz.de/10005263723
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How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
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 … outcomes during the recent period of globalization. Developing countries have, by and large, been shut out of this benefit. The … why emerging markets have not been able to realize this presumed benefit of financial globalization. In particular, our …
Persistent link: https://www.econbiz.de/10005263747
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Financial Globalization; A Reappraisal
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the … financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely cited …
Persistent link: https://www.econbiz.de/10005263828
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Global Business Cycles; Convergence or Decoupling?
Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10005825794
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Effects of Financial Globalization on Developing Countries; Some Empirical Evidence
Kose, M. Ayhan; Rogoff, Kenneth; Prasad, Eswar; Wei, … - International Monetary Fund (IMF) - 2003
in affecting developing countries’ experiences with financial globalization. …
Persistent link: https://www.econbiz.de/10005590880
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Riding Global Financial Waves; The Economic Impact of Global Financial Shocks on Emerging Market Economies
Adler, Gustavo; Mora, Camilo Ernesto Tovar - International Monetary Fund (IMF) - 2012
Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...
Persistent link: https://www.econbiz.de/10011242368
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Cross-Border Investment in Small International Financial Centers
Lane, Philip R.; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2010
This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context...
Persistent link: https://www.econbiz.de/10008519475
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Developing Essential Financial Markets in Smaller Economies; Stylized Facts and Policy Options
International Monetary Fund (IMF); International … - 2008
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
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The New International Financial Architecture and Africa
Nsouli, Saleh M.; Gall, Françoise Le - International Monetary Fund (IMF) - 2001
The new international financial architecture can help African countries benefit from globalization, while minimizing …
Persistent link: https://www.econbiz.de/10005248182