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Reaping the Benefits of Financial Globalization (Occasional Paper)
Dell'Ariccia, Giovanni, Giovanni, Julian Di, Faria, Andre, Kose, Ayhan, Mauro, Paolo
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Description for Reaping the Benefits of Financial Globalization (Occasional Paper)
Paperback. 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. Num Pages: 50 pages, Illustrations. BIC Classification: JFFS; KCLF. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). .
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.
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.
Product Details
Format
Paperback
Publication date
2008
Publisher
Intl Monetary Fund
Condition
New
Number of Pages
44
Place of Publication
Washington, DC, United States
ISBN
9781589067486
SKU
V9781589067486
Shipping Time
Usually ships in 5 to 9 working days
Ref
99-3
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