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Small and poor countries pose a challenge for the World Trade Organization (WTO). These countries have acquired a significant say in WTO decision-making. However, they have limited ability to engage in the reciprocity game that is at the heart of the WTO, and have limited interests in the...
Persistent link: https://www.econbiz.de/10005599545
Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor countries, it also presents risks to those with...
Persistent link: https://www.econbiz.de/10011142205
integration and improved real prospects are mutually reinforcing. Third, financial integration predicts globalization but the …
Persistent link: https://www.econbiz.de/10005263723
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 …
Persistent link: https://www.econbiz.de/10005263747
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 …
Persistent link: https://www.econbiz.de/10005263828
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10005825794
The paper examines the implications of lower trade barriers for sectoral diversification and macroeconomic stability in developing economies with a large primary goods sector. It shows that lower trade barriers can have ambiguous effects on macroeconomic stability. It shows also that...
Persistent link: https://www.econbiz.de/10005768953
in affecting developing countries’ experiences with financial globalization. …
Persistent link: https://www.econbiz.de/10005590880
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
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries …
Persistent link: https://www.econbiz.de/10011242219