convergence of the three policy goals in East Asia toward a “middle ground” pre-dates the convergence of these indices in other … known as the most distinct characteristic of Asian EMEs. Financial globalization seems to have made asset prices and …. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently …

This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

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 …

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

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