, which can be computed back to the first era of financial globalization for 17 countries. Global financial market integration … shapes hypothesized in earlier literature. We find no evidence of financial globalization reversing since the Great Recession …

potential spillback onto the U.S. economy from the disproportionate impact of U.S. monetary policy on the outside world. In …

risky assets around the world. We find evidence of large financial spillovers from the hegemon to the rest of the world …

It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the … banks. In this paper, I consider three possible mechanisms through which it might be feared that globalization can undermine … globalization, even of a much more thorough sort than has yet occurred, is unlikely to weaken the ability of national central banks …

-run income loss or gain for countries that experienced crises. This is in contrast to the recent wave of globalization when …

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical … benefit from financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support …