Contrary to the recent literature that concludes that the GATT/WTO has been completely ineffective in promoting world … imports estimated at about 44 percent of world trade. The same has not been true for developing country members, although …

We analyze the impact of financial globalization on asset prices, investment and the possibility of crashes driven by …

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 …

This paper argues that the globalization of securities markets may promote contagion among investors by weakening …

This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital … decreases because of globalization for two important reasons. First, the expected return that investors require to invest in … prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …

valuation gap for firms from developed markets increases by 31% after the GFC - a reversal in financial globalization - while …

Two observations suggest that financial globalization played an important role in the recent financial crisis. First …