Reaping the Benefits of Financial GlobalizationLast Updated: March 11, 2012
Prepared by the Research Department*
Approved by Simon Johnson
This is a discussion paper prepared by IMF staff. It is not a policy paper of the International Monetary Fund, and any positions taken should not be attributed to the Executive Board or Management of the IMF. This paper should not be reported as representing the views of the IMF.
II. Some Facts on Financial Globalization
III. Determinants of Financial Globalization-A Cross-Country Perspective
IV. Risk-Sharing Benefits of Financial Globalization-Theory and Practice
V. How Does Financial Globalization Affect Stability and Growth?
|A. Volatility and the Frequency of Crises||24|
|B. Economic Growth||28|
I. Capital Control Indices
II. Case Studies on Financial Account Liberalization
1. Country Lists
2. Evidence from Selected Case Studies, 1979-2004
*This paper was prepared under the direction of Jonathan D. Ostry by a team led by Paolo Mauro and comprising Giovanni Dell'Ariccia, Julian di Giovanni, André Faria, Ayhan Kose, Martin Schindler, and Marco Terrones.