Net capital flows to emerging Asia rebounded at a record pace following the global financial crisis, raising concerns …

economic centers may have contributed to this relatively poor performance. However, the emergence of Asia as a global economic … center presents Pacific island countries with an unprecedented opportunity to develop trade with Asia, particularly in …

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living …, as evidenced in the recent business cycle. The Asia and Pacific small states should continue rebuilding buffers and …

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 …

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 …

This paper studies the changes in world business cycles during 1960-2003. We employ a Bayesian dynamic latent factor … globalization period (1986-2003). The results indicate that the common (G-7) factor explains a larger fraction of output …, consumption, and investment volatility in the globalization period than in the BW period. These findings suggest that the degree …

globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …