International Financial Integration In Developing Countries
DOWNLOAD
Download International Financial Integration In Developing Countries PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get International Financial Integration In Developing Countries book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Benefits And Costs Of International Financial Integration
DOWNLOAD
Author : Pierre-Richard Agénor
language : en
Publisher: World Bank Publications
Release Date : 2001
Benefits And Costs Of International Financial Integration written by Pierre-Richard Agénor 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 2001 with Capital movements categories.
This literature review joins with recent studies in arguing that financial integration must be carefully prepared and managed to ensure that the benefits outweigh the short-run risks. But in contrast with some other studies, it adopts a more skeptical view of the benefits of capital flows other than foreign direct investment.
International Financial Integration And Economic Growth
DOWNLOAD
Author : Hali J. Edison
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-08-01
International Financial Integration And Economic Growth written by Hali J. Edison 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 2002-08-01 with categories.
This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government corruption, and macroeconomic policies. Using a wide array of measures of international financial integration on 57 countries and an assortment of statistical methodologies, we are unable to reject the null hypothesis that international financial integration does not accelerate economic growth even when controlling for particular economic, financial, institutional, and policy characteristics.
Effects Of Financial Globalization On Developing Countries
DOWNLOAD
Author : Mr.Ayhan Kose
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-03
Effects Of Financial Globalization On Developing Countries written by Mr.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 2003-09-03 with Business & Economics categories.
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.
International Financial Integration In The Aftermath Of The Global Financial Crisis
DOWNLOAD
Author : Mr.Philip R. Lane
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-10
International Financial Integration In The Aftermath Of The Global Financial Crisis written by Mr.Philip R. Lane 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 2017-05-10 with Business & Economics categories.
This paper documents the evolution of international financial integration since the global financial crisis using an updated dataset on external assets and liabilities, covering over 210 economies for the period 1970-2015. It finds that the growth in cross-border positions in relation to world GDP has come to a halt. This reflects much weaker capital flows to and from advanced economies, with diminished cross-border banking activity, and an increase in the weight of emerging economies in global GDP, as these economies have lower external assets and liabilities than advanced economies. Cross-border FDI positions have continued to expand, unlike positions in portfolio instruments and other investment. This expansion reflects primarily positions vis-à-vis financial centers, suggesting that the complexity of the corporate structure of large multinational corporations is playing an important role. The paper also explores the cross-country drivers of foreign ownership of domestic debt securities, highlighting in particular the role of the euro debt crisis in explaining its evolution.
Global Financial Integration Thirty Years On
DOWNLOAD
Author : Geoffrey R. D. Underhill
language : en
Publisher: Cambridge University Press
Release Date : 2010-09-02
Global Financial Integration Thirty Years On written by Geoffrey R. D. Underhill and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-02 with Political Science categories.
Early in the new millennium it appeared that a long period of financial crisis had come to an end, but the world now faces renewed and greater turmoil. This 2010 volume analyses the past three decades of global financial integration and governance and the recent collapse into crisis, offering a coherent and policy-relevant overview. State-of-the-art research from an interdisciplinary group of scholars illuminates the economic, political and social issues at the heart of devising an effective and legitimate financial system for the future. The chapters offer debate around a series of core themes which probe the ties between public and private actors and their consequences for outcomes for both developed markets and developing countries alike. The contributors argue that developing effective, legitimate financial governance requires enhancing public versus private authority through broader stakeholder representation, ensuring more acceptable policy outcomes.
Effects Of Financial Globalization On Developing Countries Some Empirical Evidence
DOWNLOAD
Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-12-02
Effects Of Financial Globalization On Developing Countries Some Empirical Evidence written by International Monetary Fund 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 2003-12-02 with Business & Economics categories.
NULL
International Financial Integration In Developing Countries
DOWNLOAD
Author : Gero Jung
language : en
Publisher:
Release Date : 2004
International Financial Integration In Developing Countries written by Gero Jung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
The main focus of this thesis is on developing countries and their integration into international capital markets. The first chapter, after reviewing the literature of financial integration, looks at the effect of accessing international bond markets on fiscal behavior. It aims to shed light on fiscal authorities' reaction to financial opening, and looks at some institutional features of this financial globalization. The second chapter looks as well at financial globalization, but from a different perspective. Its focus is more concerned with investor behavior and how those investors channel flows to emerging markets. One main finding of the empirical investigation is the inter-dependence of those financial flows at a more global level. The third chapter looks at a relatively new financial instrument that is increasingly used in international markets to measure sovereign risk: credit default swaps. It sheds some first insights into what is a relatively new, but fast-growing market.
Critical Issues In International Financial Reform
DOWNLOAD
Author : Gustavo Indart
language : en
Publisher: Routledge
Release Date : 2018-01-16
Critical Issues In International Financial Reform written by Gustavo Indart and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-16 with Business & Economics categories.
Critical Issues in International Financial Reform addresses weaknesses of the current international financial system and potential beneficial reforms. The focus is on the countries of Latin America and the Caribbean, but the authors also take into account relevant lessons from the experience of Canada, a country highly integrated into world and hemispheric trade and financial markets. Critical Issues offers a new perspective on a discussion too often dominated by interest groups that take strong, even rigid, positions on issues with limited understanding of the technical aspects of the issues, and little concern for the interests of the developing world. Its chapters have been written by experts in the economic, political, and social aspects of the international financial integration of developing countries. Financial crises and their associated social and economic traumas are the most apparent symptom that something is amiss in the process of world economic integration. But there are also broader questions about the nature and magnitude of the benefits and costs of increased international capital flows for different groups of countries in the developing and developed worlds. For example, even in the absence of turbulence, is it optimal for all participants that capital movements be as free as possible? Does capital inflow discourage domestic savings to a degree that should cause worry? Are some types of flows inherently more beneficial than others--for instance, direct investment flows versus flows into host stock markets? How can the instability of capital movements best be curtailed? These questions concern the contributors to this volume. This volume demonstrates that the evolution of the world financial system, its various problems, and what is or is not done about them require an understanding of the links among financial, economic, and political variables. Critical Issues in International Financial Reform is an important contribution to this debate, and will be of value to researchers in economic policy, history, and international politics. Albert Berry is professor of economics at the University of Toronto and research director of the Program on Latin America and the Caribbean. Gustavo Indart is special lecturer of economics and the coordinator of the Program on Latin America and the Caribbean at the University of Toronto.
Private Capital Flows To Developing Countries
DOWNLOAD
Author :
language : en
Publisher: World Bank Publications
Release Date : 1997
Private Capital Flows To Developing Countries written by 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 1997 with Business & Economics categories.
This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.
International Financial Integration And Economic Growth A Panel Analysis
DOWNLOAD
Author : Xuan Vinh Vo
language : en
Publisher:
Release Date : 2014
International Financial Integration And Economic Growth A Panel Analysis written by Xuan Vinh Vo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This paper employs a new panel dataset and a wide assorted number of indicators both de jure and de facto measures to proxy for international financial integration to investigate the relationship between international financial integration and economic growth. Using 79 countries with the data covering the period from 1980 to 2003, our analysis indicates a weak relationship between international financial integration and economic growth. Our data also show that this relationship is not different even though we control for different economic conditions. With the development of financial market and increased degree of international financial integration around the world, many countries especially developing countries are now trying to remove cross-border barrier and capital control, relaxing the policy on capital restrictions and deregulating domestic financial system. This paper will empirically examine the growth impacts of international financial integration. This paper is going to contribute to the existing literature on the impacts of international financial integration on economic performance in a number of ways. Firstly, we examine an extensive array of international financial integration indicators, both de jure and de facto of international financial integration. We examine the IMF's official restriction dummy variable (1) as well as the newly developed capital restriction measures by Miniane (2004). Furthermore, we explore various measures of capital flows and in disaggregation including total assets and liabilities, total liabilities, FDI, portfolio, and total capital flows as share of GDP (a total of 18 de facto indicators). Moreover, we consider measures of just capital inflows as well as measures of gross capital flows (inflows plus outflows) to proxy for international financial integration because capital account openness is defined both in terms of receiving foreign capital and in terms of domestic residents having the ability to diversify their investments abroad. In addition, we examine a wide array of international financial integration proxies because each indicator has advantages and disadvantages (2).