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Reaping the Benefits of Financial Globalization

2008-12-16 Business & Economics
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Release : 2008-12-16
Genre : Business & Economics
Kind : eBook
Book Rating : 487/5 ( reviews)

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Book Synopsis Reaping the Benefits of Financial Globalization by : Mr.Ayhan Kose

Download or read book Reaping the Benefits of Financial Globalization written by Mr.Ayhan Kose. This book was released on 2008-12-16. Available in PDF, EPUB and Kindle. Book excerpt: Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as institutional quality and domestic financial development. Although, in principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster economic growth, in practice its effects are less clear-cut. This paper envisages a gradual and orderly sequencing of external financial liberalization and complementary reforms in macroeconomic policy framework as essential components of a successful liberalization strategy.

Trade, Investment and Development: Reaping the Full Benefits of Open Markets

1999-08-26
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Release : 1999-08-26
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Kind : eBook
Book Rating : 307/5 ( reviews)

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Book Synopsis Trade, Investment and Development: Reaping the Full Benefits of Open Markets by : OECD

Download or read book Trade, Investment and Development: Reaping the Full Benefits of Open Markets written by OECD. This book was released on 1999-08-26. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews evidence of the benefits and challenges of trade and investment for development, drawing on experiences from economies in various parts of the world.

Capital Inflows: The Role of Controls

2010-02-19
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Release : 2010-02-19
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Kind : eBook
Book Rating : 513/5 ( reviews)

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Book Synopsis Capital Inflows: The Role of Controls by : Marcos Chamon

Download or read book Capital Inflows: The Role of Controls written by Marcos Chamon. This book was released on 2010-02-19. Available in PDF, EPUB and Kindle. Book excerpt: With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries with limited savings to attract financing for productive investment projects, foster the diversification of investment risk, promote intertemporal trade, and contribute to the development of financial markets. In this sense, the benefits from a free flow of capital across borders are similar to the benefits from free trade (see Reaping the Benefits of Financial Globalization, IMF Occasional Paper 264, 2008), and imposing restrictions on capital mobility means foregoing, at least in part, these benefits, owing to the distortions and resource misallocation that controls give rise to (see Edwards and Ostry, 1992, for an example of how capital controls interact with other distortions in the economy).

The Globalization Paradox

2012-05-17 Political Science
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Release : 2012-05-17
Genre : Political Science
Kind : eBook
Book Rating : 255/5 ( reviews)

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Book Synopsis The Globalization Paradox by : Dani Rodrik

Download or read book The Globalization Paradox written by Dani Rodrik. This book was released on 2012-05-17. Available in PDF, EPUB and Kindle. Book excerpt: For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

Why Globalization Works

2005-06-10 Business & Economics
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Release : 2005-06-10
Genre : Business & Economics
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Book Rating : 734/5 ( reviews)

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Book Synopsis Why Globalization Works by : Martin Wolf

Download or read book Why Globalization Works written by Martin Wolf. This book was released on 2005-06-10. Available in PDF, EPUB and Kindle. Book excerpt: A powerful case for the global market economy The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization’s critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multinational corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.

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