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Reaping the Benefits of Financial Globalization
Mr.Ayhan Kose
Mr.Julian Di Giovanni
Mr.Andre Faria
Mr.Martin Schindler
Mr.Giovanni Dell'Ariccia
Mr.Paolo Mauro
Mr.Jonathan David Ostry
Mr.Marco Terrones
出版
International Monetary Fund
, 2008-12-16
主題
Business & Economics / Finance / General
Business & Economics / Exports & Imports
Business & Economics / Globalization
ISBN
1589067487
9781589067486
URL
http://books.google.com.hk/books?id=1rYaEAAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as institutional quality and domestic financial development. Although, in principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster economic growth, in practice its effects are less clear-cut. This paper envisages a gradual and orderly sequencing of external financial liberalization and complementary reforms in macroeconomic policy framework as essential components of a successful liberalization strategy.