G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16375
DP16375 The Global Capital Market Reconsidered
Maurice Obstfeld
发表日期2021-07-19
出版年2021
语种英语
摘要While the globalization of production has been a prominent target of anti-globalization backlash, globalized finance has seemed to be much less in the public bull’s-eye. The blueprint for the postwar international economy agreed at Bretton Woods in 1944 envisioned nothing like today’s extensive and fluid global capital market. The demise of the 1946-1973 fixed exchange rate system, however, also brought a progressive dismantling of barriers to international financial flows motivated by special-interest politics, national economic competition, and ideology – alongside the benign desire for a more efficient international allocation of capital. Unfortunately, free cross-border financial capital mobility can compromise governments’ capacities to attain domestic economic and social goals in several ways. This essay links the dynamics of financial liberalization to the Teflon-like resilience of finance to backlash so far, and suggests that stronger backlash could emerge if national governments fail to enhance multilateral cooperation to manage the financial commons.
主题Economic History ; Financial Economics ; International Macroeconomics and Finance
关键词Global capital market Embedded liberalism Financial stability Globalization Multilateralism
URLhttps://cepr.org/publications/dp16375
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/545338
推荐引用方式
GB/T 7714
Maurice Obstfeld. DP16375 The Global Capital Market Reconsidered. 2021.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Maurice Obstfeld]的文章
百度学术
百度学术中相似的文章
[Maurice Obstfeld]的文章
必应学术
必应学术中相似的文章
[Maurice Obstfeld]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。