Economic theory has identified a number of channels through which openness to international financial flows could raise …

We study the interrelationship between capital flows, returns, dividend yields and world interest rates in 20 emerging …

sequencing of reform. I also investigate the role played by current account and fiscal imbalances, contagion, international …

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 studies the determinants of contagion and sudden stops following … current account problems. They also show that high integration in international capital markets exposes countries to sudden …

International capital flows have increased dramatically since the 1980s, with much of the increase being due to trade … in equity and debt markets. Such developments are often attributed to the increased integration of world financial … markets. We present a model that allows us to examine how greater integration in world financial markets affects the behavior …

between its "exogenous" global PE ratio and the world market PE ratio should predict relative growth …

associated with risky international bank flows, lending booms, and crises. In this paper we make the case for liberalization … obviate the need for risky international bank flows, as the latter are the only source of financing for most firms in the …