Hidden Bibliographic Details
| Other authors / contributors: | Wei, Shang-Jin.
Prasad, Eswar S., 1965-
Kose, M. Ayhan.
Rogoff, Kenneth.
International Monetary Fund.
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| ISBN: | 9781589062214
1589062213
1462322948
9781462322947
1452790353
9781452790350
1452727821
9781452727820
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| Notes: | Includes bibliographical references (pages 46-52).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2011 HathiTrust Digital Library committed to preserve
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| Summary: | 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.
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| Other form: | Print version: Prasad, Eswar. Effects of Financial Globalization on Developing Countries. Washington, D.C. : International Monetary Fund, 2003
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| Standard no.: | 10.5089/9781452727820.084
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