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 …

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 …

that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important … in affecting developing countries’ experiences with financial globalization. …