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Financial Globalization, Financial Crises and Contagion
Mendoza, Enrique G. - 2010
Two observations suggest that financial globalization played an important role in the recent financial crisis. First …
Persistent link: https://www.econbiz.de/10013150545
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Causes of the Great Recession of 2007-9 : The Financial Crisis is the Symptom Not the Disease!
Jagannathan, Ravi - 2010
Globalization has made it possible for labor in developing countries to augment labor in the developed world, without … world's effective labor supply, triggered by geo-political events and technological innovations, coupled with the inability …
Persistent link: https://www.econbiz.de/10013150645
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Capital Flows in a Globalized World : The Role of Policies and Institutions
Alfaro, Laura - 2005
We describe the patterns of international capital flows in the period 1970 - 2000. We then examine the determinants of capital flows and capital flows volatility during this period. We find that institutional quality is an important determinant of capital flows. Historical determinants of...
Persistent link: https://www.econbiz.de/10012784196
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The Limits of Financial Globalization
Stulz, René M. - 2005
impact of financial globalization has been remarkably limited. I argue that country attributes are still critical to … ability of a country to take advantage of financial globalization. The twin agency problems help explain why the impact of … financial globalization has been limited and why financial globalization can lead to capital flight and financial crises. The …
Persistent link: https://www.econbiz.de/10012784989
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Global Imbalances and Financial Fragility
Caballero, Ricardo J. - 2010
behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …
Persistent link: https://www.econbiz.de/10012757927
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Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela - 2021
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10013224423
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The Global Capital Market : Benefactor or Menace?
Obstfeld, Maurice - 2021
inescapable in the real world of asymmetric information and imperfect contract enforcement. I argue, however, that in confronting …
Persistent link: https://www.econbiz.de/10013224934
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Monetary Policy in a Changing International Environment : The Role of Global Capital Flows
Feldstein, Martin S. - 2021
The Feldstein-Horioka study of 1980 found that OECD countries with high saving rates had high investment rates and vice versa, contrary to the traditional theory of global capital market integration. This capital market segmentation view, which has been verified in various studies over the past...
Persistent link: https://www.econbiz.de/10013226573
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Sequencing of Reforms, Financial Globalization, and Macroeconomic Vulnerability
Edwards, Sebastian - 2021
I use a large cross country data set and panel probit analysis to investigate the way in which the interaction between trade and financial openness affect the probability of external crises. This analysis is related to debate on the adequate sequencing of reform. I also investigate the role...
Persistent link: https://www.econbiz.de/10013232183
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Globalization and Capital Markets
Obstfeld, Maurice; Taylor, Alan M. - 2021
The ebb and flow of international capital since the nineteenth century illustrates recurring difficulties, as well as the alternative perspectives from which policymakers have tried to confront them. This paper is devoted to documenting these vicissitudes quantitatively and explaining them....
Persistent link: https://www.econbiz.de/10013243924