LEADER 05588nam 2200721 a 450 001 9910826488603321 005 20230120012021.0 010 $a1-78402-386-8 010 $a1-283-70484-6 010 $a0-12-405899-X 035 $a(CKB)2670000000268710 035 $a(EBL)1073027 035 $a(OCoLC)818851465 035 $a(SSID)ssj0000788932 035 $a(PQKBManifestationID)11463924 035 $a(PQKBTitleCode)TC0000788932 035 $a(PQKBWorkID)10847656 035 $a(PQKB)11578709 035 $a(Au-PeEL)EBL1073027 035 $a(CaPaEBR)ebr10615154 035 $a(CaONFJC)MIL401734 035 $a(CaSebORM)9780123978745 035 $a(MiAaPQ)EBC1073027 035 $a(OCoLC)850699017 035 $a(OCoLC)ocn850699017 035 $a(EXLCZ)992670000000268710 100 $a20121107d2013 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 04$aThe evidence and impact of financial globalization /$feditor-in-chief, Gerard Caprio ; editors, Thorsten Beck, Stijn Claessens, Sergio L. Schmukler 205 $a1st ed. 210 $aBoston $cElsevier$d2013 215 $a1 online resource (807 p.) 300 $aDescription based upon print version of record. 311 $a0-12-397874-2 320 $aIncludes bibliographical references and index. 327 $aFront 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 Openness 327 $aMeasuring 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 Integration 327 $aEffects 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 Accounts 327 $aIndividual 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 Imbalances 327 $aThe 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 Alignment 327 $aCountry Selectivity 330 $aThe 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, autho 606 $aInternational finance 606 $aGlobalization 615 0$aInternational finance. 615 0$aGlobalization. 676 $a303.482 676 $a332.042 701 $aClaessens$b Stijn$0282431 701 $aSchmukler$b Sergio L$01630013 701 $aBeck$b Thorsten$01596268 701 $aCaprio$b Gerard$0252245 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910826488603321 996 $aThe evidence and impact of financial globalization$94115875 997 $aUNINA