advantage. Financial globalization then induces more specialization and more trade. The present framework yields explicit closed …

the weight of U.S. liabilities in the rest of the world''s stock of external assets. Finally, it relates the empirical …

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 …

This paper analyzes the impact of the globalization of financial markets on developing and transition economies …

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the … financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely cited …

the relative role of 'globalization' and 'technology' shocks in accounting for the short and long run variance of global …