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.
1. Cover image 2. Title page 3. Table of Contents 4. Copyright 5. Volume 3 6. Section Editors 7. Preface 8. Contributors 9. Chapter 1. Financial Globalization and Crises: Overview 10. I: Evidence on Financial Globalization 11. Chapter 2. Measurements of Capital and Financial Current Account Openness 12. Chapter 3. Measurement and Impact of Equity Market Liberalization 13. Chapter 4. Bilateral Financial Links 14. Chapter 5. Global Imbalances 15. Chapter 6. Aid Flows 16. II: Forces Behind Globalization 17. Chapter 7. Composition of International Capital Flows: A Survey 18. Chapter 8. Migrant Remittances and Development 19. Chapter 9. International Mutual Funds, Capital Flow Volatility, and Contagion – A Survey 20. Chapter 10. Capital Raisings 21. Chapter 11. International Cross-listings 22. Chapter 12. Disclosure of Ownership and Public Companies 23. Chapter 13. Role of Trade Finance 24. Chapter 14. Foreign Bank Participation in Developing Countries 25. Chapter 15. Opportunistic Foreign Currency Debt Issuance 26. Chapter 16. International Government Debt 27. Chapter 17. Carry Trade 28. III: Effects of Financial Globalization 29. Chapter 18. Capital Market Integration 30. Chapter 19. Collateral Benefits of Financial Globalization 31. Chapter 20. Foreign Direct Investment and Growth 32. Chapter 21. International Technology Transfer and Foreign Direct Investment 33. Chapter 22. Role of Multinational Corporations in Financial Globalization 34. Chapter 23. India’s Reintegration into the World Economy in the 1990s 35. Chapter 24. Reforms of China’s Banking System 36. Chapter 25. Policy Issues of China’s Financial Globalization 37. Chapter 26. Financial Integration in Europe 38. IV: Monetary and Exchange Rate Policy Under Financial Globalization 39. Chapter 27. The Impossible Trinity (aka The Policy Trilemma) 40. Chapter 28. Financial Globalization and Monetary Policy 41. Chapter 29. Interest Rate Parity 42. Chapter 30. Exchange Rate Regimes 43. Chapter 31. Currency Unions 44. Chapter 32. Financial Dollarization 45. V: Crises 46. Chapter 33. Models of Currency Crises 47. Chapter 34. Predictive Indicators of Financial Crises 48. Chapter 35. A Perspective on Predicting Currency Crises 49. Chapter 36. Empirical Literature on Financial Crises: Fundamentals vs. Panic 50. Chapter 37. Sudden Stops in Capital Flows 51. Chapter 38. Definitions and Types of Financial Contagion 52. Chapter 39. Cross-Border Banking: Regulation, Supervision, and Crisis Resolution 53. Chapter 40. Market-Based Approach to Financial Architecture 54. Chapter 41. Housing Is the Business Cycle 55. Chapter 42. US Stock Market Crisis of 1987 56. Chapter 43. Mexican Financial Crisis of 1994–1995 57. Chapter 44. East-Asian Crisis of 1997 58. Chapter 45. Financial Globalization and the Russian Crisis of 1998 59. Chapter 46. Argentina’s Default of 2001 60. Chapter 47. Assessment of Solutions to US Financial Crisis of 2008–09 61. Chapter 48. A Cross-Country Perspective on the Causes of the Global Financial Crisis 62. Chapter 49. Lessons and Policy Implications from the Global Financial Crisis 63. Index
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.
1. Cover image 2. Title page 3. Table of Contents 4. Copyright 5. Volume 3 6. Section Editors 7. Preface 8. Contributors 9. Chapter 1. Financial Globalization and Crises: Overview 10. I: Evidence on Financial Globalization 11. Chapter 2. Measurements of Capital and Financial Current Account Openness 12. Chapter 3. Measurement and Impact of Equity Market Liberalization 13. Chapter 4. Bilateral Financial Links 14. Chapter 5. Global Imbalances 15. Chapter 6. Aid Flows 16. II: Forces Behind Globalization 17. Chapter 7. Composition of International Capital Flows: A Survey 18. Chapter 8. Migrant Remittances and Development 19. Chapter 9. International Mutual Funds, Capital Flow Volatility, and Contagion – A Survey 20. Chapter 10. Capital Raisings 21. Chapter 11. International Cross-listings 22. Chapter 12. Disclosure of Ownership and Public Companies 23. Chapter 13. Role of Trade Finance 24. Chapter 14. Foreign Bank Participation in Developing Countries 25. Chapter 15. Opportunistic Foreign Currency Debt Issuance 26. Chapter 16. International Government Debt 27. Chapter 17. Carry Trade 28. III: Effects of Financial Globalization 29. Chapter 18. Capital Market Integration 30. Chapter 19. Collateral Benefits of Financial Globalization 31. Chapter 20. Foreign Direct Investment and Growth 32. Chapter 21. International Technology Transfer and Foreign Direct Investment 33. Chapter 22. Role of Multinational Corporations in Financial Globalization 34. Chapter 23. India’s Reintegration into the World Economy in the 1990s 35. Chapter 24. Reforms of China’s Banking System 36. Chapter 25. Policy Issues of China’s Financial Globalization 37. Chapter 26. Financial Integration in Europe 38. IV: Monetary and Exchange Rate Policy Under Financial Globalization 39. Chapter 27. The Impossible Trinity (aka The Policy Trilemma) 40. Chapter 28. Financial Globalization and Monetary Policy 41. Chapter 29. Interest Rate Parity 42. Chapter 30. Exchange Rate Regimes 43. Chapter 31. Currency Unions 44. Chapter 32. Financial Dollarization 45. V: Crises 46. Chapter 33. Models of Currency Crises 47. Chapter 34. Predictive Indicators of Financial Crises 48. Chapter 35. A Perspective on Predicting Currency Crises 49. Chapter 36. Empirical Literature on Financial Crises: Fundamentals vs. Panic 50. Chapter 37. Sudden Stops in Capital Flows 51. Chapter 38. Definitions and Types of Financial Contagion 52. Chapter 39. Cross-Border Banking: Regulation, Supervision, and Crisis Resolution 53. Chapter 40. Market-Based Approach to Financial Architecture 54. Chapter 41. Housing Is the Business Cycle 55. Chapter 42. US Stock Market Crisis of 1987 56. Chapter 43. Mexican Financial Crisis of 1994–1995 57. Chapter 44. East-Asian Crisis of 1997 58. Chapter 45. Financial Globalization and the Russian Crisis of 1998 59. Chapter 46. Argentina’s Default of 2001 60. Chapter 47. Assessment of Solutions to US Financial Crisis of 2008–09 61. Chapter 48. A Cross-Country Perspective on the Causes of the Global Financial Crisis 62. Chapter 49. Lessons and Policy Implications from the Global Financial Crisis 63. Index
