05554nam 2200697 a 450 991046205380332120200520144314.01-78402-386-81-283-70484-60-12-405899-X(CKB)2670000000268710(EBL)1073027(OCoLC)818851465(SSID)ssj0000788932(PQKBManifestationID)11463924(PQKBTitleCode)TC0000788932(PQKBWorkID)10847656(PQKB)11578709(MiAaPQ)EBC1073027(CaSebORM)9780123978745(Au-PeEL)EBL1073027(CaPaEBR)ebr10615154(CaONFJC)MIL401734(EXLCZ)99267000000026871020121107d2013 uy 0engur|n|---|||||txtccrThe evidence and impact of financial globalization[electronic resource] /editor-in-chief, Gerard Caprio ; editors, Thorsten Beck, Stijn Claessens, Sergio L. Schmukler1st ed.Boston Elsevier20131 online resource (807 p.)Description based upon print version of record.0-12-397874-2 Includes bibliographical references and index.Front Cover; The Evidence and Impact of Financial Globalization; Copyright; Editor-in-Chief; Section Editors for related volumes; Contents; Preface; Contributors; Chapter 1: Financial Globalization and Crises: Overview; Introduction; Evidence on Financial Globalization; Forces Behind Globalization; Effects of Financial Globalization; Monetary and Exchange Rate Policy under Financial Globalization; Crises; Final Words; Acknowledgment; References; Section I: Evidence on Financial Globalization; Chapter 2: Measurements of Capital and Financial Current Account OpennessMeasuring Financial IntegrationThe IMF's AREAER; Indicators Based on the AREAER Categorical Table of Restrictions; Indicators Based on Text of AREAER; Other De Jure Indicators; De Jure and De Facto Data Compared; Coding; Data Properties; Uses of Measures; Conclusions; Acknowledgments; References; Chapter 3: Measurement and Impact of Equity Market Liberalization; Introduction; Equity Market Liberalization; Official Equity Market Liberalization; Country Funds and American Depository Receipts; The Intensity of Liberalization; Foreign equity portfolio holdings; Measuring Market IntegrationEffects of Stock Market LiberalizationFinancial Effects; Expected returns (cost of capital); Return volatility and correlation; Market liquidity; Capital flows and contagion; Macroeconomic Effects; Investment and GDP growth; Allocative efficiency and productivity; Conclusion; Acknowledgments; References; Further Reading; Chapter 4: Bilateral Financial Links; Introduction; Bilateral Data on External Assets and Liabilities; Main International Data Sources; Foreign Direct Investment; Portfolio Equity and Portfolio Debt Securities; Foreign Exchange Reserves; Other Data Sources; Euro Area AccountsIndividual Country Data SourcesCustodial Center Bias; What Explains Bilateral External Financial Linkages?; Theoretical Foundation for Gravity Models in Goods Trade; Theoretical Foundation for Gravity Models in Cross-Border Asset Trade; Information Asymmetries, Familiarity Effects, and Trust; Stylized Facts; Data; Network of Financial Linkages; Undirected Network; Directed Network; Comparison with the Trade Network; Cross-Border Financial Links and International Transmission of Shocks; Conclusions; See also; Glossary; Further Reading; Relevant Websites; Chapter 5: Global ImbalancesThe Contested Landscape of Global ImbalancesGlobal Imbalances Defined; Spendthrift America and the Saving-Investment Approach; A US Productivity Surge and the Intertemporal Approach; East Asian Mercantilism and Bretton Woods II Versus Self-Protection; A Global Saving Glut?; Imbalances and the Financial Crisis; See also; Acknowledgments; Glossary; References; Chapter 6: Aid Flows; Introduction; Situating Aid Flows Within Financial Globalization; The Particularities of Aid Flows; Aid Effectiveness and the NAA; Recipient Participation and Country Ownership; Harmonization and AlignmentCountry SelectivityThe sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoInternational financeGlobalizationElectronic books.International finance.Globalization.303.482Claessens Stijn282431Schmukler Sergio L943511Beck Thorsten880119Caprio Gerard252245MiAaPQMiAaPQMiAaPQBOOK9910462053803321The evidence and impact of financial globalization2129425UNINA