In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different … a variety of empirical techniques, we conclude that there is at best a modest degree of international risk sharing, and …

better risk sharing outcomes during the recent period of globalization. Developing countries have, by and large, been shut …In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … risk sharing. In this paper, we provide a comprehensive empirical evaluation of the patterns of risk sharing among …

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …

process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality, and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable inherent tensions in evaluating the risks and benefits associated with financial globalization. In the light of these …