time, the major recipients have changed: while the share of aid to Asia has diminished since the 1980s, that destined for …

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 …

typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax … that it is invariant to governance indicators. …

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 …

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 …