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The Evidence And Impact Of Financial Globalization

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The Evidence and Impact of Financial Globalization

The Evidence and Impact of Financial Globalization Book
Author : Anonim
Publisher : Academic Press
Release : 2012-12-31
ISBN : 012405899X
Language : En, Es, Fr & De

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Book Description :

The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works

The Evidence and Impact of Financial Globalization

The Evidence and Impact of Financial Globalization Book
Author : Gerard Caprio
Publisher : Academic Press
Release : 2012-11-27
ISBN : 0123978742
Language : En, Es, Fr & De

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Book Description :

This title devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity.

Effects of Financial Globalization on Developing Countries

Effects of Financial Globalization on Developing Countries Book
Author : Mr.Ayhan Kose,Mr.Kenneth Rogoff,Mr.Eswar Prasad,Shang-Jin Wei
Publisher : International Monetary Fund
Release : 2003-09-03
ISBN : 9781589062214
Language : En, Es, Fr & De

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Book Description :

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.

Capital Market Liberalization and Development

Capital Market Liberalization and Development Book
Author : Joseph E. Stiglitz,José Antonio Ocampo
Publisher : Oxford University Press on Demand
Release : 2008-05
ISBN : 0199230587
Language : En, Es, Fr & De

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Book Description :

Capital market liberalization has been a key part of the ongoing debate on globalization. Bringing together leading researchers and practitioners in the field, this book provides a unique analysis of both the risks associated with capital market liberalization and the alternative policy options available to enhance macroeconomic management.

Globalization and Poverty

Globalization and Poverty Book
Author : Ann Harrison
Publisher : University of Chicago Press
Release : 2007-11-01
ISBN : 0226318001
Language : En, Es, Fr & De

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Book Description :

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

Handbooks in Financial Globalization 3 Volume Set

Handbooks in Financial Globalization  3 Volume Set Book
Author : Gerard Caprio
Publisher : Academic Press
Release : 2012-11-16
ISBN : 9780124072268
Language : En, Es, Fr & De

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Book Description :

These three volumes present the full complexity of the history, practices, and outlook of 21st century global financial integration. The Handbook of Key Global Financial Markets, Institutions, and Infrastructure explores the growth of markets, intermediaries, rights, practices, and standards worldwide. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. The Handbook of Safeguarding Global Financial Stability examines our political economy, particularly the ways in which formal and informal policies as well as financial theories and technical models inhabit our institutions, strategies, and tactics. For those seeking substantial, authoritative descriptions and summaries, these volumes will replace books, journals, and other information sources with a coherent, easy-to-use reference work. Reveals and analyzes examples of financial integration in both triumph and crisis Features international perspectives on strategies and tactics for resolving crises Concentrates on economic and financial topics without introducing broader cultural subjects

Globalization and Systemic Risk

Globalization and Systemic Risk Book
Author : Douglas Darrell Evanoff,David S. Hoelscher,George G. Kaufman
Publisher : World Scientific
Release : 2009
ISBN : 9812833374
Language : En, Es, Fr & De

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Book Description :

The impact of globalization of financial markets is a highly debated topic, particularly in recent months when the issue of globalization and contagion of financial distress has become a focus of intense policy debate. The papers in this volume provide an up-to-date overview of the key issues in this debate. While most of the contributions were prepared after the initial outbreak of the current global turmoil and financial crisis, they identify the relative strengths of the risk diversification and risk transmission processes and examine the empirical evidence to date. The book considers the relative roles of banks, nonbank financial institutions and capital markets in both risk diversification and risk transmission. It then evaluates the current status of crisis resolution in a global context, and speculates where to go from here in terms of understanding, resolution, prevention and public policy.

The Impact of Globalization on International Finance and Accounting

The Impact of Globalization on International Finance and Accounting Book
Author : David Procházka
Publisher : Springer
Release : 2017-12-29
ISBN : 331968762X
Language : En, Es, Fr & De

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Book Description :

This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.

Energy Growth Nexus in an Era of Globalization

Energy Growth Nexus in an Era of Globalization Book
Author : Muhammad Shahbaz,Aviral Kumar Tiwari,Avik Sinha
Publisher : Elsevier
Release : 2021-11-12
ISBN : 0128244410
Language : En, Es, Fr & De

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Book Description :

Energy Growth Nexus in an era of Globalization reviews current research and practical policy considerations reflective of the ongoing transformation, covering four broad globalization themes from existing research literature: energy consumption, renewable energy consumption, financial markets and energy markets. Within these themes, contributors evaluate transformations in the energy-growth association relating to economic slowdowns, trade patterns, impacts of globalization, cross-border technological spillovers, changes in the risk profile of the countries, advent of Sustainable Development Goals (SDGs), changes in the pattern of cross-border labor force migration, and rising environmental awareness, among many other considerations. Policymakers, energy economists, and energy researchers in a range of connected disciplines will find this to be a great resource on the energy growth sector. Addresses globalization relating to energy consumption, environmental quality, econometrics and energy markets Demonstrates how to design effective energy and environmental policies in a rapidly globalizing world within a Sustainable Development Goals (SDGs) framework Reviews open research questions relevant to energy-growth nexus so policymakers can bring forth socioeconomic stability

The Aggregate and Distributional Effects of Financial Globalization Evidence from Macro and Sectoral Data

The Aggregate and Distributional Effects of Financial Globalization  Evidence from Macro and Sectoral Data Book
Author : Davide Furceri,Mr.Prakash Loungani,Mr.Jonathan David Ostry
Publisher : International Monetary Fund
Release : 2018-04-11
ISBN : 1484352122
Language : En, Es, Fr & De

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Book Description :

We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows—financial globalization. Both country- and industry-level results suggest that such policies have led on average to limited output gains while contributing to significant increases in inequality—that is, they pose an equity–efficiency trade-off. Behind this average lies considerable heterogeneity in effects depending on country characteristics. Liberalization increases output in countries with high financial depth and those that avoid financial crises, while distributional effects are more pronounced in countries with low financial depth and inclusion and where liberalization is followed by a crisis. Difference-indifference estimates using sectoral data suggest that liberalization episodes reduce the share of labor income, particularly for industries with higher external financial dependence, those with a higher natural propensity to use layoffs to adjust to idiosyncratic shocks, and those with a higher elasticity of substitution between capital and labor. The sectoral results underpin a causal interpretation of the findings using macro data.

Financial Globalization

Financial Globalization Book
Author : International Monetary Fund
Publisher : International Monetary Fund
Release : 2007-04-27
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

This publication gathers together articles, that have appeared in Finance & Development over the past eight years, which dealt with the inplications of, and responses to, globalization. The focus is on financial globalization, including the policy implications of the huge growth in cross-border capital flows.

Handbook of Research on Institutional Economic and Social Impacts of Globalization and Liberalization

Handbook of Research on Institutional  Economic  and Social Impacts of Globalization and Liberalization Book
Author : Bayar, Yilmaz
Publisher : IGI Global
Release : 2020-11-06
ISBN : 1799844609
Language : En, Es, Fr & De

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Book Description :

Globalization is a multi-dimensional concept reflecting the increased economic, social, cultural, and political integration of countries. There has been no pinpointed consensus on the history of globalization; however, the globalization process has gained significant speed as of the 1980s in combination with liberalization. Many countries have removed or loosened barriers over the international flows of goods, services, and production factors. In this context, both liberalization and globalization have led to considerable institutional, economic, social, cultural, and political changes in the world. The liberalization and globalization processes have affected economic units, institutions, cultures, social lives, and national and international politics. The Handbook of Research on Institutional, Economic, and Social Impacts of Globalization and Liberalization provides a comprehensive evaluation of the institutional, economic, and social impacts of globalization and liberalization processes across the world. While highlighting topics like economics, finance, business, and public administration, this book is ideally intended for government officials, policymakers, practitioners, stakeholders, researchers, and academicians interested in the international impacts of globalization and liberalization across a variety of different domains.

Global Waves of Debt

Global Waves of Debt Book
Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Release : 2021-03-03
ISBN : 1464815453
Language : En, Es, Fr & De

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Book Description :

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Does Financial Integration Spur Economic Growth

Does Financial Integration Spur Economic Growth  Book
Author : Moritz Schularick,Thomas M. Steger
Publisher : Unknown
Release : 2006
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Does Financial Integration Spur Economic Growth book written by Moritz Schularick,Thomas M. Steger, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Financial Globalization and the Emerging Economies

Financial Globalization and the Emerging Economies Book
Author : United Nations. Economic Commission for Latin America and the Caribbean
Publisher : United Nations Publications
Release : 2000
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Financial globalisation has been a dynamic element in recent years, with large capital flows to a number of emerging economies in Latin America and Asia often being followed by financial crises.

The Future of Productivity

The Future of Productivity Book
Author : OECD
Publisher : OECD Publishing
Release : 2015-12-11
ISBN : 9264248536
Language : En, Es, Fr & De

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Book Description :

This book addresses the rising productivity gap between the global frontier and other firms, and identifies a number of structural impediments constraining business start-ups, knowledge diffusion and resource allocation (such as barriers to up-scaling and relatively high rates of skill mismatch).

Foreign Banks

Foreign Banks Book
Author : Neeltje van Horen,Stijn Claessens
Publisher : International Monetary Fund
Release : 2012-01-01
ISBN : 1463939027
Language : En, Es, Fr & De

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Book Description :

This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20 percent in OECD countries and 50 percent elsewhere. Foreign banks have higher capital and more liquidity, but lower profitability than domestic banks do. Only in developing countries is foreign bank presence negatively related with domestic credit creation. During the global crisis foreign banks reduced credit more compared to domestic banks, except when they dominated the host banking systems.

Confronting Inequality

Confronting Inequality Book
Author : Jonathan D. Ostry,Prakash Loungani,Andrew Berg
Publisher : Columbia University Press
Release : 2019-01-08
ISBN : 0231527616
Language : En, Es, Fr & De

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Book Description :

Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.

Taxing Profit in a Global Economy

Taxing Profit in a Global Economy Book
Author : Michael P. Devereux,Alan J. Auerbach,Michael Keen,Paul Oosterhuis,John Vella,Wolfgang Schön
Publisher : Oxford University Press
Release : 2020-09-29
ISBN : 0198808062
Language : En, Es, Fr & De

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Book Description :

The international tax system is in dire need of reform. It allows multinational companies to shift profits to low tax jurisdictions and thus reduce their global effective tax rates. A major international project, launched in 2013, aimed to fix the system, but failed to seriously analyse the fundamental aims and rationales for the taxation of multinationals' profit, and in particular where profit should be taxed. As this project nears its completion, it is becomingincreasingly clear that the fundamental structural weaknesses in the system will remain. This book, produced by a group of economists and lawyers, adopts a different approach and starts from first principles in order to generate an international tax system fit for the 21st century. This approach examines fundamental issues of principle and practice in the taxation of business profit and the allocation of taxing rights over such profit amongst countries, paying attention to the interests and circumstances of advanced and developing countries. Once this conceptual framework is developed, the book evaluates the existing system and potential reform options against it. A number of reform options are considered, ranging from those requiring marginal change to radically different systems. Some options have been discussed widely. Others, particularly Residual Profit Split systems and a Destination Based Cash-Flow Tax, are more innovative and have been developed at some length and in depth for the first time in this book. Their common feature is that they assign taxing rights partly/fully to the location of relatively immobile factors: shareholders or consumers.