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Using cross-country differences in the degree of isolation before the advent of technologies in sea and air transportation, we assess the relationship between geographic isolation and financial development across the globe. We find that pre-historic geographical isolation has been beneficial to...
Persistent link: https://www.econbiz.de/10011496342
improves political stability while only economic globalisation does not increase voice & accountability and political … general governance. It follows that: (i) political governance is driven by voice and accountability compared to political … and policy implications are discussed. …
Persistent link: https://www.econbiz.de/10011496371
of financial globalisation. The policy relevance for assessing these variations simultaneously builds on the intuition … by the Financial Development and Structure Database of the World Bank. The findings consistently reveal: (i) positive … effects. The second and third findings are fundamentally due to marginal effects of low positive magnitude. Policy …
Persistent link: https://www.econbiz.de/10011407925
. Therefore the appropriate role of policy should neither be to stem the tide of capital flows nor to encourage them, but to … globalisation by providing policy makers with levels of FDI (as percentage of GDP) that are required to start materialising …
Persistent link: https://www.econbiz.de/10011407934
With financial globalization, investors can gain from diversification if returns from financial markets are stable and … recent trends in the world economy: the global financial crisis and the 2011 Japanese natural disasters (tsunami, earthquake …
Persistent link: https://www.econbiz.de/10011409896
Are formal institutions instrumental in the effect globalization mechanisms have on the human face? If so, through … some channels of globalization on poverty (and inequality), formal institutions have the capacity to device policies that … will give capital openness, trade and economic liberalizations a human face. Social implications and policy options are …
Persistent link: https://www.econbiz.de/10011409995
a result the effect of globalization on corruption is limited. As a policy implication, persistent globalization as an …Purpose - Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings … standpoints. In the analysis, while the economic and social dimensions of globalization are reflected in the HDI, the political …
Persistent link: https://www.econbiz.de/10011410065
globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of … object is to assess if financial benefits of financial globalization are questionable until greater domestic financial … the financial development benefits of financial globalization. The estimation approach consists of assessing the impact of …
Persistent link: https://www.econbiz.de/10011410072
globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of … object is to assess if financial benefits of financial globalization are questionable until greater domestic financial … financial development benefits of financial globalization. The estimation approach consists of assessing the impact of financial …
Persistent link: https://www.econbiz.de/10011410250
about the merits of financial globalization and its implications for growth especially in developing countries. This paper … have two important policy implications. Firstly, we confirm that Latin America was most prepared to brace the financial …
Persistent link: https://www.econbiz.de/10011410546