"Despite the major advances in information technology that have shaped the recent wave of globalization, openness to … suggests that a particular threat and a limiting factor to globalization and its future developments may be militarist …

which financial globalization can be a substitute for reforms of domestic financial system. Inefficient financial system and … investment. While financial globalization always improves the welfare of a developed country with a good financial system, its … the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …