Reaping the benefits of financial globalization /
Benefits of financial globalization
Giovanni Dell'Ariccia ... [et. al.].
- Washington, DC : International Monetary Fund, c2008.
- v, 37 p. : ill. ; 28 cm.
- Occasional paper ; 264 .
- Occasional paper (International Monetary Fund) ; 264. .
Includes bibliographical references (p. 33-35).
Overview -- Introduction -- Some facts on financial globalization -- Determinants of financial globalization : a cross-country perspective -- Risk-sharing benefits of financial globalization : theory and practice -- How does financial globalization affect stability and growth? -- Conclusion -- Appendixes. I. Country lists. II. Capital control indices. III. Case studies on financial account liberalization -- References.
"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 globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster economic growth, in practice its effects are less clear-cut. Countries gain or lose from financial integration depending on their domestic economic and institutional conditions. The results in this Occasional Paper are broadly supportive of an approach envisaging a gradual and orderly sequencing of external financial liberalization and emphasizing the desirability of complementary reforms in macroeconomic policy framework and the domestic financial system as essential components of a successful liberalization strategy" -- preface (v.)
9781589067486 1589067487
2009284273
International finance. Economic policy Ekonomi politikası Globalization Küreselleşme