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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

Rising Income Inequality; Technology, o+L3904r Trade and Financial Globalization?

Papageorgiou, Chris; Lall, Subir; Jaumotte, Florence - International Monetary Fund (IMF) - 2008

We examine the relationship between trade and financial globalization and the rise in inequality in most countries in … recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited … overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction …

Persistent link: https://www.econbiz.de/10005263792

Rethinking the Governance of the International Monetary Fund

Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2006

This paper attempts to set out the principal issues that need to be resolved in formulating a proposal for quotas and voice reform in the IMF that could command broad support. Following John Rawls, we argue that "justice is the first virtue of social institutions," and we use his theory of...

Persistent link: https://www.econbiz.de/10005825790

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

Out of the Box Thoughts About the International Financial Architecture

Eichengreen, Barry J. - International Monetary Fund (IMF) - 2009

insist that international colleges of regulators are not enough-that it is desirable to create a World Financial Organization …

Persistent link: https://www.econbiz.de/10008528699

Global Risks and Collective Action Failures: What Can the International Community Do?

Otker-Robe, Inci - International Monetary Fund (IMF) - 2014

Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...

Persistent link: https://www.econbiz.de/10010959476

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

Does the World Need a Universal Financial Institution?

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

world. Why has this status come about? What are its costs and benefits? Is it an appropriate model for a world where …

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

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

Precautionary Demand for Foreign Assets in Sudden Stop Economies; An Assessment of the New Merchantilism

Mendoza, Enrique G.; Durdu, Ceyhun Bora; Terrones, Marco - International Monetary Fund (IMF) - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in … assets via business cycle volatility, financial globalization, and endogenous Sudden Stops. Our results show that financial … globalization and Sudden Stop risk are plausible explanations of the surge in reserves but cyclical volatility, which has declined …

Persistent link: https://www.econbiz.de/10005263736