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The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10003831857
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … different groups of countries and examine how international financial integration has affected the evolution of risk sharing … patterns. Using a variety of empirical techniques, we conclude that there is at best a modest degree of international risk …
Persistent link: https://www.econbiz.de/10003586563
from the US over 1992-2007, and 23 international financial markets over 2001-2007. The results indicate the existence of …
Persistent link: https://www.econbiz.de/10009516904
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10003816538
This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take into account that participation in higher education is non-compulsory and depends on individual choice. Integration increases (decreases) the incentives to participate in higher...
Persistent link: https://www.econbiz.de/10003291728
induces empirically observed declines in fertility rates throughout the world. …
Persistent link: https://www.econbiz.de/10011925357
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012178610
-tech sectors in their international portfolio allocations but overinvest in high-tech stocks in developed countries. To further …
Persistent link: https://www.econbiz.de/10012178659
development model, based on high MNC penetration. -- International relations and international political economy ; economic …
Persistent link: https://www.econbiz.de/10003896161
Heterogeneous firms are at the heart of both the New New International Trade Theory and the Micro-econometrics of … International Firm Activities. One important aim of microeconometric studies is to uncover stylized facts that hold over space and …-econometrics of international firm activities do we consider as convincing? Based on my own experience from the last twenty years I …
Persistent link: https://www.econbiz.de/10009006944