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Is Globalization Today Really Different than Globalization a Hunderd Years Ago?

Bordo, Michael D. - 1999

for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

Persistent link: https://www.econbiz.de/10012471593

Crises Now and Then : What Lessons from the Last Era of Financial Globalization

Eichengreen, Barry - 2002

We consider the operation of international capital markets in two periods of globalization, before 1914 and after 1971 … international monetary framework was responsible for the relatively short-lived and mild nature of pre-World War I financial crises …

Persistent link: https://www.econbiz.de/10012469999

Growing Up to Financial Stability

Bordo, Michael D. - 2007

context of globalization then ( pre-1914) and now ( 1980 to the present). I then discuss the determinants of emerging market …

Persistent link: https://www.econbiz.de/10012465663

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises

Bordo, Michael D. - 2015

Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...

Persistent link: https://www.econbiz.de/10012457380

Keeping Capital Flowing : The Role of the IMF

Bordo, Michael D. - 2004

In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF program, although they may initially deteriorate...

Persistent link: https://www.econbiz.de/10012467855

Are Financial Crises Becoming Increasingly More Contagious? What is the Historical Evidence on Contagion?

Bordo, Michael D. - 2000

We examine the evidence of contagion during the pre World War I era and the interwar and contrast our findings with the …

Persistent link: https://www.econbiz.de/10012470837

Was There Really an Earlier Period of International Financial Integration Comparable to Today?

Bordo, Michael D. - 1998

In this paper we reconsider the international market integration, starting at high levels in the late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey suggests that in some...

Persistent link: https://www.econbiz.de/10012472076

Real Versus Pseudo-International Systemic Risk : Some Lessons from History

Bordo, Michael D. - 1995

This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and pseudo-systemic risk. We examine the history of episodes...

Persistent link: https://www.econbiz.de/10012473496

The International Monetary System and International Financial System as an Analogy to the Copernican Heliocentric system : A simple multi-layers network model with simultaneous reg...

Bordo, Michael D.; Bastidon, Cécile - National Bureau of Economic Research - 2023

The evolution of the IMS and IFS in the past several hundred years can be viewed through the lens of the Copernican heliocentric system developed over 500 years ago. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. We...

Persistent link: https://www.econbiz.de/10014372472

Historical Evidence on the Finance-Trade-Growth Nexus

Bordo, Michael D. - 2011

trade reinforced each other before 1930, but that these effects did not persist after the Second World War. Financial … after 1945. We attribute the rising importance of trade in explaining growth to major post-World War II changes in tariffs …

Persistent link: https://www.econbiz.de/10012461634