Since the late 1990s there have been substantial changes in the current account balances of a number of economies, most notably a marked widening in the current account deficit of the United States and increased net lending by many developing nations to developed economies. This paper uses panel...

This paper investigates the link between international financial integration and economic growth. In particular, we ask the following questions. What are the theoretical links between financial integration and growth? Is there any empirical evidence that an increase in financial integration is...