for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

This paper argues that the globalization of securities markets may promote contagion among investors by weakening …

This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital … decreases because of globalization for two important reasons. First, the expected return that investors require to invest in … prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …

valuation gap for firms from developed markets increases by 31% after the GFC - a reversal in financial globalization - while …

Two observations suggest that financial globalization played an important role in the recent financial crisis. First …

The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications …

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …