Financial Globalization: A Reappraisal
Kose, Ayhan, Prasad, Eswar, Rogoff, Kenneth, Wei, Shang-Jin
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting...
How do trade and financial integration affect the relationship between growth and volatility?
Ayhan Kose, Marco E. Terrones, Eswar Prasad
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom - that output volatility and growth are negatively...
Financial Globalization, Growth and Volatility in Developing Countries
Kose, Ayhan, Prasad, Eswar, Rogoff, Kenneth, Wei, Shang-Jin
This Paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is...