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In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … outcomes during the recent period of globalization. Developing countries have, by and large, been shut out of this benefit. The … why emerging markets have not been able to realize this presumed benefit of financial globalization. In particular, our …
Persistent link: https://www.econbiz.de/10014400319
wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and …
Persistent link: https://www.econbiz.de/10014404021
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In this paper, we examine the IMF''s role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially...
Persistent link: https://www.econbiz.de/10014404030
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10014401282
Persistent link: https://www.econbiz.de/10003090839
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We assess the effect of income inequality on life expectancy by performing separate estimations for developed and developing countries. Our empirical analysis challenges the widely held view that inequality matters more for health in richer countries than for health in poorer countries....
Persistent link: https://www.econbiz.de/10010344097
A study of 53 countries during 1980-95 finds that financial liberalization increases the probability of a banking crisis, but less so where the institutional environment is strong. In particular, respect for the rule of law, a low level of corruption, and good contract enforcement are relevant...
Persistent link: https://www.econbiz.de/10014400719