Financial globalization, defined as global linkages through cross-border financial flows, has become increasingly … relevant for emerging markets as they integrate financially with the rest of the world. This paper argues that, because of the … way it is often measured, it has also led to the misperception that financial globalization in emerging markets has been …

transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …Financial globalization has gathered attention since the early 1990s because of its macro-financial implications and … growing importance. But financial globalization has taken shape via different forms over time. This paper examines two …

market-state balance, macroeconomic management, globalization, development financing, and public spending. On the one hand … should largely reinforce the Post-Washington Consensus on development that has emerged over the past decade -- a world view … economic management in the developed world and the economic models that guide it. The crisis has revealed major market failures …

This paper examines the factors that determine banking flows from advanced economies to emerging markets. In addition … particular, in spite of the severe impact of the global financial crisis, banking flows in emerging Europe stand out as a more … stable region than is the case in other developing regions. Assuming that the determinants of banking flows remain unchanged …

depend heavily on external finance; and banking development is positively associated with more physical and human capital … that small-scale firms in low-income countries benefit most from private credit market development. Rather, the labor … growth rates of larger, capital-intensive firms increase more with the level of private credit market development, a finding …

Since the 1970s, the world has embarked on a new financial globalization era. Cross-country capital flows have … significantly increased in developed and developing countries. However, the characteristics of financial globalization differ from … financial globalization (such as additional funding, broad diversification, and deeper financial systems), the positive effects …

The authors address two questions: What happens to stock market size, liquidity, volatility, and integration with world … development and regulations about information disclosure, accounting standards, and investor protection? An analysis of data on …

(the VIX, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain … common factors exhibits a "globalization" stage up to 2007, during which they acquire growing importance, followed by a phase …

likely to stop bringing their capital when their economy is growing and the world interest rate is lower. Domestic agents are …