Effects of Financial Globalization on Developing Countries: Some Empirical Evidence

Business & Finance, Economics, Public Finance, Finance & Investing, Banks & Banking, Macroeconomics
Cover of the book Effects of Financial Globalization on Developing Countries: Some Empirical Evidence by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei ISBN: 9781452790350
Publisher: INTERNATIONAL MONETARY FUND Publication: September 3, 2003
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
ISBN: 9781452790350
Publisher: INTERNATIONAL MONETARY FUND
Publication: September 3, 2003
Imprint: INTERNATIONAL MONETARY FUND
Language: English

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Fiscal Policy to Mitigate Climate Change: A Guide for Policymakers by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Anticipating Balance of Payments Crises--The Role of Early Warning Systems by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Floating Exchange Rates in Developing Countries: Experience with Auction and Interbank Markets by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Debt Maturity and the Use of Short-Term Debt by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Financial Sector Development in Sub-Saharan African Countries by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Legal Aspects of Regulatory Treatment of Banks in Distress by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book World Economic Outlook, April 2012: Growth Resuming, Dangers Remain by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Legal Effects of Fluctuating Exchange Rates by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Second-Generation Fiscal Rules by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book World Economic Outlook, January 1993 by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Two Targets, Two Instruments: Monetary and Exchange Rate Policies in Emerging Market Economies by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book World Economic Outlook, May 1996: Focus on Fiscal Policy by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Regional Economic Outlook: Middle East and Central Asia, October 2008 by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
Cover of the book Zimbabwe: Challenges and Policy Options after Hyperinflation by M. Mr. Kose, Kenneth Mr. Rogoff, Eswar Mr. Prasad, Shang-Jin Wei
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy