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A Few Lessons for the Future

Paolo Mauro, Nathan Sussman, and Yishay Yafeh

in Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199272693
eISBN:
9780191603488
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199272697.003.0008
Subject:
Economics and Finance, Financial Economics

This concluding chapter reiterates three main themes emphasized in the book. The first is that institutional and political reforms seldom reduce the cost of capital quickly; other types of events, ... More


The Benefits and Risks of Financial Globalization

Sergio L. Schmukler

in Capital Market Liberalization and Development

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199230587
eISBN:
9780191710896
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199230587.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter discusses the benefits and risks that financial globalization entails for developing countries. Financial globalization can lead to large benefits, particularly the development of the ... More


Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today

Paolo Mauro, Nathan Sussman, and Yishay Yafeh

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199272693
eISBN:
9780191603488
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199272697.001.0001
Subject:
Economics and Finance, Financial Economics

This book provides the first comparative analysis of the determinants of sovereign bond spreads in the first era of financial globalization and bond finance (1870-1913) and today (1994-2002). Drawing ... More


Financial Globalization, Crisis, and the Reorganization of Global Capital

Philip G. Cerny

in Rethinking World Politics: A Theory of Transnational Neopluralism

Published in print:
2010
Published Online:
May 2010
ISBN:
9780199733699
eISBN:
9780199776740
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199733699.003.0012
Subject:
Political Science, International Relations and Politics

This chapter focuses on what would seem at first glance to be the most problematic issue area today in the context of the current financial crisis and recession, what has been called ... More


From the Boom in Capital Inflows to Financial Traps

Roberto Frenkel

in Capital Market Liberalization and Development

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199230587
eISBN:
9780191710896
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199230587.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines the performance of highly indebted countries from the point of view of their links with the international financial market. Although the more analytical parts of the chapter do ... More


Capital Account Liberalization

Yung Chul Park

in Economic Liberalization and Integration in East Asia: A Post-Crisis Paradigm

Published in print:
2005
Published Online:
February 2006
ISBN:
9780199276776
eISBN:
9780191603051
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199276773.003.0017
Subject:
Economics and Finance, South and East Asia

The degree of capital account liberalization in Malaysia and South Korea before and after the crisis were compared. It is difficult to determine whether capital controls or the implementation of an ... More


Financial Globalization, Growth, and Volatility in Developing Countries

Eswar S. Prasad, Kenneth Rogoff, Shang-Jin Wei, and M. Ayhan Kose

in Globalization and Poverty

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226317946
eISBN:
9780226318004
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226318004.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter states that both developed and developing countries have become increasingly open to capital flows, measured using either policy instruments such as capital controls or ex post capital ... More


Crises and Self-Fulfilling Expectations

Giovanni Piersanti

in The Macroeconomic Theory of Exchange Rate Crises

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199653126
eISBN:
9780191741210
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199653126.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses the basic analytical framework of “second-generation” models of currency crises and their extensions to deal with new characteristics of international financial crises such as ... More


Neoliberal Policies and Globalization

Şevket Pamuk

in Uneven Centuries

Published in print:
2018
Published Online:
May 2019
ISBN:
9780691166377
eISBN:
9780691184982
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691166377.003.0011
Subject:
Economics and Finance, Economic History

This chapter shows that, while obstacles to international capital movements were removed in many countries, the obstacles in the way of international labor movements remained in place. At the same ... More


Banking, Capital Flows, and Financial Cycles: Common Threads in the 2007–2009 Crises

Young-Hwa Seok and Hyun Song Shin

in How Finance Is Shaping the Economies of China, Japan, and Korea

Published in print:
2013
Published Online:
November 2015
ISBN:
9780231165266
eISBN:
9780231536462
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231165266.003.0005
Subject:
Economics and Finance, International

This chapter considers the phenomenon of financial globalization. This type of globalization is organized within the role of financial intermediaries, especially banks, in the proliferation of ... More


What Future for Financial Activism in Korea and Beyond?

Elizabeth Thurbon

in Developmental Mindset: The Revival of Financial Activism in South Korea

Published in print:
2016
Published Online:
August 2016
ISBN:
9781501702525
eISBN:
9781501704178
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501702525.003.0010
Subject:
Political Science, Asian Politics

This concluding chapter briefly looks at the findings revealed in the previous chapters and discusses the significance of these findings for broader debates. These debates include the inevitability ... More


Global Finance: Riches for the Few; Harm for the Many

John Linarelli, Margot E Salomon, and Muthucumaraswamy Sornarajah

in The Misery of International Law: Confrontations with Injustice in the Global Economy

Published in print:
2018
Published Online:
May 2018
ISBN:
9780198753957
eISBN:
9780191815812
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198753957.003.0006
Subject:
Law, Public International Law

This chapter explores how financial globalization of today fails to deliver enough of the right sort of finance necessary to promote development and productive investment in societies. The ... More


An Introductory Overview

Hugh Patrick

in How Finance Is Shaping the Economies of China, Japan, and Korea

Published in print:
2013
Published Online:
November 2015
ISBN:
9780231165266
eISBN:
9780231536462
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231165266.003.0001
Subject:
Economics and Finance, International

This introductory chapter provides the framework of the book in discussing the financial development of China, Japan, and Korea. It begins by comparing and contrasting the domestic dimensions of ... More


The Great Moderation and Israel’s Disinflation

Assaf Razin

in Israel and the World Economy: The Power of Globalization

Published in print:
2018
Published Online:
September 2018
ISBN:
9780262037341
eISBN:
9780262344234
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262037341.003.0004
Subject:
Political Science, Political Economy

Big drivers of domestic inflation, as they formulated in the Phillips Curve, are: (1) The price of imports and the exchange rate; (2) capacity pressures and labor market tightness in the domestic ... More


The Chinese Approach to Capital Inflows: Patterns and Possible Explanations

Eswar Prasad and Shang-Jin Wei

in Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226184975
eISBN:
9780226184999
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226184999.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter summarizes China's experience with capital flows and capital account restrictions. China may have benefited greatly in terms of enhancing the risk-return trade-offs. There is no clear ... More


Global Macroeconomic and Financial Supervision: Where Next?

Charles A. E. Goodhart

in Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century

Published in print:
2014
Published Online:
September 2014
ISBN:
9780226030753
eISBN:
9780226030890
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226030890.003.0010
Subject:
Economics and Finance, International

Two key challenges impede progress in improving oversight, one political and one analytical. The political problem is the clash between national sovereignty and policymaking and the international ... More


Financial Globalization and the Future of the Fed

Toshiaki Hirai, Maria Cristina Marcuzzo, and Perry Mehrling

in Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780198092117
eISBN:
9780199082506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198092117.003.0013
Subject:
Economics and Finance, History of Economic Thought

What was shadow banking, why did it collapse, why did the Fed intervene, why did their intervention work, and what does it all mean? This chapter places the global financial crisis of 2007–9 in the ... More


One World of Production?

Adam D. Dixon

in The New Geography of Capitalism: Firms, Finance, and Society

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199668236
eISBN:
9780191781957
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199668236.003.0002
Subject:
Business and Management, Finance, Accounting, and Banking, Political Economy

This chapter rehearses scholarship in economic geography on the territorial development of capitalism in general and globalization in particular. The chapter integrates finance into this argument, ... More


The Rush for Gold

Simon James Bytheway and Mark Metzler

in Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World

Published in print:
2016
Published Online:
May 2017
ISBN:
9781501704949
eISBN:
9781501705953
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501704949.003.0009
Subject:
History, Economic History

This chapter describes the great rush to cash in national currencies for gold in 1930 and 1931. Under the press of this run on gold, gold-based credit systems collapsed. Thus, credit-led ... More


Financial Liberalization: A Survey with Emphasis on the Indian Case

Vineet Kohli

in Economics: Volume 3: Macroeconomics

Published in print:
2015
Published Online:
September 2016
ISBN:
9780199458950
eISBN:
9780199086900
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199458950.003.0002
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter places the debate on financial liberalization within the specific context of the Indian economy. Financial liberalization would fail to elicit a positive investment response when money ... More


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