approach to financial innovation that the General Agreement on Trade in Services (GATS) of the World Trade Organization (WTO … financial crisis, financial innovation was regarded as inextricably linked with economic growth and aggregate welfare. In the … wake of the crisis, criticism as to the utility of financial innovation became more unequivocal. After reviewing the …

The world is witnessing growing turbulence stemming from geopolitics and a tangible threat of economic disintegration …. There are some indications of globalization in retreat, international trade growth slowing down and a transition from … various trends around global economic integration and pushing towards de-globalization is extremely difficult. This paper aims …

This study unites two streams of research by simultaneously focusing on the impact of financial globalization on …, whereas marginal effects from financial globalization are positive on financial dynamics of activity and size, corresponding … net effects (positive thresholds) are negative (within range). Second, while decreasing financial globalization returns …

investigate the transmission of a global financial crisis that originates from financial frictions in the rest of the world. We …

countries at the core of the crisis, by putting significant downward pressure on world interest rates and/or by simply financing …