This paper argues that the globalization of securities markets may promote contagion among investors by weakening …

Two observations suggest that financial globalization played an important role in the recent financial crisis. First …

globalization is accompanied by the development of domestic institutions and financial markets. However, if liberalization does not … lead to financial development, globalization can result in adverse effects on social welfare and the distribution of wealth … asset market incompleteness, financial globalization hurts the poor in countries with less developed financial markets. This …

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

's decade of globalization in the 1990's. I focus the analysis on men born in states with either high-exposure or low …-exposure to globalization, as measured by the share of foreign direct investment, imports, or export assembly in state GDP …

and asset prices first rise and then fall. These results are in line with the post-globalization dynamics observed in …