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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP7135 |
DP7135 Contrasting Trends in Firm Volatility: Theory and Evidence | |
David Thesmar | |
发表日期 | 2009-01-23 |
出版年 | 2009 |
语种 | 英语 |
摘要 | We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound macroeconomic policies are an important prerequisite for ensuring that financial integration is beneficial. However, our analysis also suggests that the relationship between financial integration and economic policies is a complex one and that there are unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these tensions, structural and macroeconomic policies often need to be tailored to take into account country specific circumstances to improve the risk-benefit tradeoffs of financial integration. Ultimately, it is essential to see financial integration not just as an isolated policy goal but as part of a broader package of reforms and supportive macroeconomic policies. |
主题 | Development Economics ; International Macroeconomics |
关键词 | Capital account liberalization Financial globalization |
URL | https://cepr.org/publications/dp7135 |
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/535972 |
推荐引用方式 GB/T 7714 | David Thesmar. DP7135 Contrasting Trends in Firm Volatility: Theory and Evidence. 2009. |
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