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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP5830 |
DP5830 Fiscal Policy in Europe: The Past and Future of EMU Rules from the Perspective of Musgrave and Buchanan | |
André Sapir; Marco Buti | |
发表日期 | 2006-09-17 |
出版年 | 2006 |
语种 | 英语 |
摘要 | The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting results. We attempt to provide a unified conceptual framework for organizing this vast and growing literature. This framework allows us to provide a fresh synthetic perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical reading of the recent empirical literature is that it lends some qualified support to the view that developing countries can benefit from financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely-cited claims that financial globalization by itself leads to deeper and more costly developing country growth crises. |
主题 | International Macroeconomics ; Public Economics |
关键词 | Capital account liberalization Financial integration Growth and volatility Financial crises Developing countries |
URL | https://cepr.org/publications/dp5830 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534669 |
推荐引用方式 GB/T 7714 | André Sapir,Marco Buti. DP5830 Fiscal Policy in Europe: The Past and Future of EMU Rules from the Perspective of Musgrave and Buchanan. 2006. |
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