New Perspectives on Financial Globalization

Few issues have stirred such passionate debate among development researchers and policymakers as the merits of financial globalization. On the one hand, many economists see enhanced financial globalization as an important step for developing countries that aspire to the levels of income and stability achieved by advanced economies. On the other hand, some others argue that financial integration carries huge risks that far outweigh the potential benefits for most developing countries. The research on the benefits and costs of financial globalization for developing countries has exploded in recent years, with a variety of apparently conflicting results. What are the implications of financial globalization for growth and stability? What are the main policy conclusions of recent research?

Join us for a discussion of these questions and related issues with a panel of experts.

Featuring:

Guillermo A. Calvo
Professor
School of International and Public Affairs
Columbia University

Jeffrey A. Frankel
James W. Harpel Professor of Capital Formation and Growth
Kennedy School of Government
Harvard University

Kenneth S. Rogoff
Thomas D. Cabot Professor of Public Policy and Professor of Economics
Department of Economics
Harvard University

Stijn Claessens (Moderator)
Assistant Director and Chief of the Financial Studies Division
Research Department
IMF