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Is Financial Globalization Harmful For Developing Countries?
Tuesday, May 27, 2003, 10:00 a.m.–11:30 a.m.
IMF Auditorium (Enter via the IMF Center)
720 19th St. N.W., Washington, DC

Transcript of this conference

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The recent wave of financial globalization since the mid-1980s has been marked by a surge in capital flows among industrial countries and, more notably, between industrial and developing countries. While these capital flows have been associated with high growth rates in some developing countries, a number of others have experienced significant financial crises, accompanied by sharp collapses in growth rates, over the same period. These crises have exacted serious macroeconomic and social costs, which raises the question: What, in fact, is reliably known about the effects of financial integration on developing countries? The following panelists will address this and related issues:

Kenneth Rogoff (Moderator)
Economic Counselor and Director of the Research Department

C. Fred Bergsten
Institute For International Economics

Jeffrey Frankel
Professor of Capital Formation and Growth
Kennedy School of Government
Harvard University

Eswar Prasad
Assistant to the Director
Asia and Pacific Department

Daniel Tarullo
Professor of Law
Georgetown University Law Center
Georgetown University

Shang-Jin Wei
Research Department