"The explosive growth and increasing complexity of global financial markets are defining characteristics of the contemporary world economy. Unfortunately, financial globalization has been accompanied by a marked increase in the frequency and severity of financial crises. The International...

Desde o princípio da crise econômica mundial, em 2007, o FMI tem atuado em diversas frentes para mobilizar apoio a seus 188 países membros. O Fundo ampliou a oferta e concessão de crédito, valeu-se de sua experiência internacional para sugerir soluções e empreendeu reformas que o...

This paper stresses a new channel through which global financial linkages contribute to the co-movement in economic activity across countries. We show in a two-country setting with borrowing constraints that international credit markets are subject to self-fulfilling variations in the world real...

Intro -- Contents -- Acknowledgments -- 1. Introduction -- 2. Borrowers, Investors, and National Institutions -- 3. Domestic Policy, State Institutions, and Financial Globalization -- 4. Global Capital Markets and the Command Economies -- 5. Sinking or Swimming in a Global Capital Pool -- 6....