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We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality, and trade openness appear to help...
Persistent link: https://www.econbiz.de/10014025737
In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country …
Persistent link: https://www.econbiz.de/10014276058
We document a robust relation between corporate tax differentials and US international financial integration (IFI). While this is the case for traditional IFI based on cross-border positions, the positive link also emerges for its larger consolidated-by-nationality version. The gap between these...
Persistent link: https://www.econbiz.de/10014492188
world on the U.S. external position. The author constructs their global distribution, carefully accounting for the role of …
Persistent link: https://www.econbiz.de/10014500929
The finding of Feldstein and Horioka (1980) that domestic saving and domestic investment are highly correlated across countries despite the rapid globalization and liberalization of financial markets in recent decades has been regarded as a Puzzle or Paradox. However, in this paper, we show that...
Persistent link: https://www.econbiz.de/10014530303
This Article examines the International Monetary Fund's recent efforts to play an assertive regulatory role with regard to global capital flows. There is a growing consensus among scholars and policymakers that states must carefully manage capital flows and coordinate their policies for doing...
Persistent link: https://www.econbiz.de/10013031468
Following the 2008 global financial crisis, Sovereign Wealth Funds (SWFs) gained visibility. Despite the regulation demands by host states, this new sovereign role in international markets can work as an important tool for developing countries. By cushioning imbalance periods and insulating from...
Persistent link: https://www.econbiz.de/10013110684
While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing...
Persistent link: https://www.econbiz.de/10003727278
While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by lateindustrializing developing...
Persistent link: https://www.econbiz.de/10014220102
The world is seeing a new share‐out of the wealth of nations that benefits emerging markets. The shock waves that have … hit the world's financial markets over the last decade are fostering this transition. This article looks at how the new … power brokers are establishing new world financial centres and players. We also look at how an economy like Spain's can jump …
Persistent link: https://www.econbiz.de/10013127845