G2TT
来源类型Discussion paper
规范类型论文
来源IDDP5830
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
URLhttps://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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