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Financial globalization has increased dramatically over the past three decades, particularly for advanced economies … principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster …
Persistent link: https://www.econbiz.de/10010790496
Persistent link: https://www.econbiz.de/10005767371
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
that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important … in affecting developing countries’ experiences with financial globalization. …
Persistent link: https://www.econbiz.de/10005590880
Persistent link: https://www.econbiz.de/10005590943