This paper analyzes the impact of the globalization of financial markets on developing and transition economies. Differences between the responses of competitiv

A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in

In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empir

Many prominent critics regard the international financial system as the dark side of globalization, threatening disadvantaged nations near and far. But in The N