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One of the most important developments of the 21st century is financial globalization. Financial globalization affects … other economic spheres and economic activities deeply. Also financial globalization restricts national economic policies of … nation states. Financial globalization produces both important new opportunities and advantages and new drastic problems on …
Persistent link: https://www.econbiz.de/10013086035
The global financial crisis provides an important testing ground for the financial globalisation model. We ask three questions. First, did financial globalisation materially contribute to the origination of the global financial crisis? Second, once the crisis occurred, how did financial...
Persistent link: https://www.econbiz.de/10013064180
Will the world run out of 'safe assets' and what would be the consequences on global financial stability? We argue that in a world with competing private stores of value, the global economic system tends to favor the riskiest ones. Privately produced stores of value cannot provide sufficient...
Persistent link: https://www.econbiz.de/10013064183
Financial globalization, defined as global linkages through cross-border financial flows, has become increasingly … way it is often measured, it has also led to the misperception that financial globalization in emerging markets has been … growing in recent years. The authors characterize the evolution of financial globalization in emerging markets using …
Persistent link: https://www.econbiz.de/10013068213
Persistent link: https://www.econbiz.de/10013068347
, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy …
Persistent link: https://www.econbiz.de/10013072261
This paper examines how global liquidity responds to a US (United States) monetary policy shock, and whether global liquidity has effects on global imbalances. To this end we estimate regression and Panel-VARX models using data from the G5 (US, United Kingdom, Euro area, Japan and Canada) and 20...
Persistent link: https://www.econbiz.de/10013014928
‘we must have more globalization' will again be the elite rallying cry; but the crisis will have left behind sufficient …
Persistent link: https://www.econbiz.de/10013152286
This paper seeks to identify factors potentially conditioning firms' financial internationalization. Companies often internationalize their financial areas as part of their larger internationalization strategy. In other words, such initiative is associated with the internationalization of...
Persistent link: https://www.econbiz.de/10013153448
We compare and contrast two prominent notions of financial cycles: a domestic variant, which focuses on how financial conditions within individual economies lead to boom-bust cycles there; and a global variant, which highlights how global financial conditions affect individual economies. The two...
Persistent link: https://www.econbiz.de/10012834310