favorable nor unfavorable implication for world trade; instead the balance of trade-creating and trade-diverting effects …

The connections between globalization and democracy are a classic question in international political economy and a … positive relationships running both ways between globalization and democracy, though exceptions obtain at particular times …

We consider the operation of international capital markets in two periods of globalization, before 1914 and after 1971 … international monetary framework was responsible for the relatively short-lived and mild nature of pre-World War I financial crises …

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 …

financial flows and to its institutional initiatives, not just in Asia but around the world. The other is that the renminbi will … play a regional role in Asia equivalent to that of the euro in greater Europe. Proponents of this view argue that China has … in developing regional institutions. Asia, they argue on these grounds, will become the natural habitat for the renminbi …

rest of the world. Once one controls for these characteristics and policies, in other words, there is no residual Asia …Asia's underdeveloped bond markets and dependence on bank finance have been topics of concern since the crisis of 1997 … characteristics and macroeconomic and financial policies account fully for differences in bond market development between Asia and the …