Emerging Markets And Financial Globalization
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Emerging Markets And Financial Globalization
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Author : Paolo Mauro
language : en
Publisher: OUP Oxford
Release Date : 2007-12-13
Emerging Markets And Financial Globalization written by Paolo Mauro and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-13 with Business & Economics categories.
The frequency and virulence of recent financial crises have led to calls for reform of the current international financial architecture. To learn more about today's international financial environment, the authors turn to an earlier era of financial globalization to help us understand the characteristics of global crises by learning from the past.
Emerging Market Economies And Financial Globalization
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Author : Leonardo E. Stanley
language : en
Publisher: Anthem Press
Release Date : 2018-03-15
Emerging Market Economies And Financial Globalization written by Leonardo E. Stanley and has been published by Anthem Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-15 with Business & Economics categories.
In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.
Financial Globalization And Democracy In Emerging Markets
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Author : L. Armijo
language : en
Publisher: Springer
Release Date : 1999-01-13
Financial Globalization And Democracy In Emerging Markets written by L. Armijo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-13 with Business & Economics categories.
When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the usually reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles...may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid portfolio capital flows on governments, opposition, politicians, business and the workforce in such emerging market countries as Mexico, Brazil, Russia, Indonesia, Vietnam, Thailand and Indonesia. Hailed as 'exemplary and innovative', 'fine-grained and accessible' and 'a must read', this collection of original essays in newly available in paperback.
Financial Globalization And Democracy In Emerging Markets
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Author : Leslie Elliott Armijo
language : en
Publisher:
Release Date : 2001
Financial Globalization And Democracy In Emerging Markets written by Leslie Elliott Armijo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Emerging Capital Markets And Globalization
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2006-10-20
Emerging Capital Markets And Globalization written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-20 with Business & Economics categories.
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Financial Globalization And The Emerging Market Economy
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Author : Dilip K. Das
language : en
Publisher: Routledge
Release Date : 2004-01-22
Financial Globalization And The Emerging Market Economy written by Dilip K. Das and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-22 with Business & Economics categories.
The whirlwind of financial globalization has descended upon emerging market economies and rapid change has brought both benefits and problems upon a dynamic group of nations.This book examines the impact of ever increasing financial globalization on emerging market economies, both in the former communist countries of Eastern Europe and the developi
How Does Financial Globalization Affect Risk Sharing Patterns And Channels
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Author : M. Ayhan Kose
language : en
Publisher: International Monetary Fund
Release Date : 2007-10
How Does Financial Globalization Affect Risk Sharing Patterns And Channels written by M. Ayhan Kose and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-10 with Business & Economics categories.
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international financial integration has affected the evolution of these patterns. Using a variety of empirical techniques, we conclude that there is at best a modest degree of international risk sharing, and certainly nowhere near the levels predicted by theory. In addition, only industrial countries have attained better risk sharing outcomes during the recent period of globalization. Developing countries have, by and large, been shut out of this benefit. The most interesting result is that even emerging market economies, which have experienced large increases in cross-border capital flows, have seen little change in their ability to share risk. We find that the composition of flows may help explain why emerging markets have not been able to realize this presumed benefit of financial globalization. In particular, our results suggest that portfolio debt, which has dominated the external liability stocks of most emerging markets until recently, is not conducive to risk sharing.
Financial Globalization And The Emerging Market Economies
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Author : Dilip K. Das (Wirtschaftswissenschaftler)
language : en
Publisher:
Release Date : 2004
Financial Globalization And The Emerging Market Economies written by Dilip K. Das (Wirtschaftswissenschaftler) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Capital movements categories.
Growth And Development In Emerging Market Economies
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Author : Harinder S Kohli
language : en
Publisher: SAGE Publications Ltd
Release Date : 2008-05-09
Growth And Development In Emerging Market Economies written by Harinder S Kohli and has been published by SAGE Publications Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-05-09 with Business & Economics categories.
The book addresses senior policy makers’ interested in understanding and debating key issues currently faced by the better performing emerging markets throughout the world. Papers in the volume address international capital flows, financial markets, globalization, and private participation in infrastructure development.
Emerging Markets And The Global Economy
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Author : Mohammed El Hedi Arouri
language : en
Publisher: Academic Press
Release Date : 2013-12-26
Emerging Markets And The Global Economy written by Mohammed El Hedi Arouri and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-26 with Business & Economics categories.
Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan Concentrates on post-crisis roles of emerging markets in the global economy Reports on key theoretical and technical developments in emerging financial markets Forecasts future developments in linkages among developed and emerging economies