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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

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

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 countriesâ€™ experiences with financial globalization. …

Persistent link: https://www.econbiz.de/10005590880

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

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

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

Does the World Need a Universal Financial Institution?

Boughton, James M. - International Monetary Fund (IMF) - 2005

All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its...

Persistent link: https://www.econbiz.de/10005248315

Financial Integration and Macroeconomic Volatility

Terrones, Marco; Prasad, Eswar; Kose, M. Ayhan - International Monetary Fund (IMF) - 2003

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s...

Persistent link: https://www.econbiz.de/10005263967

Does G-4 Liquidity Spill Over?

Psalida, L. Effie; Sun, Tao - International Monetary Fund (IMF) - 2011

The resumption of strong capital flows into emerging markets in mid-2009 brought back the debate over whether pull or push factors are the main determinants. This paper, using panel specifications with alternative measures of global liquidity, asks the question whether G-4 liquidity expansion...

Persistent link: https://www.econbiz.de/10009369433

Financial Integration and Rebalancing in Asia

Unteroberdoerster, Olaf; Pongsaparn, Runchana - International Monetary Fund (IMF) - 2011

The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication...

Persistent link: https://www.econbiz.de/10009369446