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Two observations suggest that financial globalization played an important role in the recent financial crisis. First …
Persistent link: https://www.econbiz.de/10012463217
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications …
Persistent link: https://www.econbiz.de/10012463732
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10012464398
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on …
Persistent link: https://www.econbiz.de/10012008492
globalization, international tax competition, and the fading generosity of the welfare state. Financial globalization triggers a … key mechanism which links financial globalization to redistribution policy, this paper develops a stripped-down model …, where easing the country access to the world capital markets induces political-economy based policy changes that impact …
Persistent link: https://www.econbiz.de/10012452967
financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has …
Persistent link: https://www.econbiz.de/10012463989
The rapid growth of international reserves---a development concentrated in the emerging markets---remains a puzzle. In this paper we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital...
Persistent link: https://www.econbiz.de/10012464430
Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...
Persistent link: https://www.econbiz.de/10012457380
Persistent link: https://www.econbiz.de/10000771268
time, the definition of external balance has evolved in response to changes in the world economy's structure. The foreign …
Persistent link: https://www.econbiz.de/10012476993