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Although new and strengthened regional institutions have emerged in most regions of the global economy, institutional variation has persisted. The key dimensions of institutional variation considered here are decision rules; commitment devices, such as legalization and enfranchisement; and...
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globalization exacerbates failures in international capital markets and impinges upon capital flows and the pace and order of …. It also highlights how financial globalization was related to the East Asian crises. The main conclusion is that … intermediate non-conventional fundamentals, shifts in private agents' expectations and financial globalization were arguably the …
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