wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and …

liabilities held by countries, especially in the developing world. This paper constructs estimates of foreign assets and …

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 …