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Part I: Keynote Addresses -- 1. Market Discipline and Public Policy : The Role of the IMF / Anne O. Krueger -- 2. Three Observations on Market Discipline / Malcolm Knight -- 3. Effective Market Discipline : The Roles of Auditors, Companies, and Analysts / Susan Schmidt Bies -- 4. A Review of the...
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Focusing on technology spillover from foreign direct investment (FDI) inflows, this paper investigates the welfare implications of financial integration. Calibrations of a neoclassical growth model with international technology diffusion show that when technology catch-up due to FDI inflows is...
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