Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … microeconomic (firm- or industry-level) data shows some benefits of financial integration and the distortionary effects of capital … macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the …