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How Does Financial Globalization Affect Risk Sharing? : Patterns and Channels

Terrones, Marco - 2007

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

Financial Globalization : A Reappraisal

Kose, M. Ayhan - 2006

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 …

Persistent link: https://www.econbiz.de/10014401981

How Does Globalization Affect the Synchronization of Business Cycles?

Kose, M. Ayhan - 2003

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

Persistent link: https://www.econbiz.de/10014404021

Financial Integration and Macroeconomic Volatility

Terrones, Marco - 2003

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s...

Persistent link: https://www.econbiz.de/10014404001

Trade and inclusive growth

Bacchetta, Marc; Cerra, Valerie; Piermartini, Roberta; … - 2021

This paper surveys the literature on the relationship between international trade and inclusive growth. It examines claims that the rise in inequality in many countries can be attributed to the concurrent rise in trade competition, especially from EMEs like China, spurring trade tensions and...

Persistent link: https://www.econbiz.de/10012518909

Volatility and Comovement in a Globalized World Economy : An Empirical Exploration

Kose, M. Ayhan - 2003

. However, for emerging market economies, financial globalization appears to have been associated, on average, with an increase … corresponding world aggregates …

Persistent link: https://www.econbiz.de/10014403966

Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

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

Did Output Recover From the Asian Crisis?

Cerra, Valerie - 2003

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...

Persistent link: https://www.econbiz.de/10014404003

Launching export accelerations in Latin America and the world

Cerra, Valerie; Woldemichael, Martha Tesfaye - 2017

This paper investigates the determinants of sustained accelerations in goods and services exports. Strong predictors of export takeoffs include domestic and structural indicators such as lower macroeconomic uncertainty, improved quality of institutions, a depreciated exchange rate, and...

Persistent link: https://www.econbiz.de/10011716656

International Trade and the Business Cycle

Prasad, Eswar - 1999

This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by...

Persistent link: https://www.econbiz.de/10014400973