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glutʺ observed in the era of advancing financial globalization. The supposed paradox is that the developing world has … States’ position as issuer of the world’s premiere reserve currency and supremacy in global finance explain the related …
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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 different groups of countries and examine how international...
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