dynamics of financial integration and assesses whether advances in financial integration and globalization yield the beneficial … financial integration and globalization predict higher growth, lower growth volatility, as well as lower probabilities of … systemic real risk realizations; (c) financial integration fosters domestic financial development and the liquidity of equity …

growths on average relative to the rest of the world (ROW). This is earned even though the US is relatively insulated against … global consumption and GDP risks, challenging a traditional risk-based interpretation of this premium. This relative US … safety is also at odds with the dollar’s hedging properties: standard risk-based exchange rate models tie countercyclical …

forgotten in the decades after the previous global crisis, the Great Depression. Financial risk matters. It is necessary for …