"Financial globalization has increased dramatically over the past three decades, particularly different capital control regimes, as well as from a range of persistent factors, including different degrees of institutional quality and domestic financial development. While, in principle, financial...

The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....