The Evidence and Impact of Financial Globalization


  • Gerard Caprio, Williams College, Williamstown, MA

The 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, authoritative, and useful, these articles provide material unavailable elsewhere.
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Undergraduates and graduate students worldwide working in all areas of finance and economics. Researchers will typically be examining the global aspects and implications of their particular interests.


Book information

  • Published: November 2012
  • ISBN: 978-0-12-397874-5


"Editor Caprio…presents empirical research on the forces behind financial globalization, such as international capital flows, foreign bank participation in developing countries, and international government debt."--Reference and Research Book News, February 2013
"This volume provides authoritative non-technical coverage of key topics related to the  globalization of financial activities and institutions, with particular and up-to-date analyses of international financial crises."--Josef Brada, Arizona State University
The Evidence and Impact of Financial Globalization is a collection of essays written by major specialists in each specific field of globalization, ranging from aid, foreign investment and migration to exchange rates, international government debt and financial crisis. Its 50 chapters investigate the various aspects of globalization, their determinants and impact both in abstract terms and with reference to specific countries and regions. It is an essential companion for those that want to up-date and improve their knowledge of the impressive significance acquired by financial globalization in the last two or three decades."--Nicola Acocella, Universit√† degli Studi di Roma "La Sapienza"
"Is mainstream theory the cause of our recent financial crisis, and will it be to blame for future crises? If theory did not cause it, it did nothing to prevent or even mitigate it. This book offers an impressive series of essays on the Great Recession, investigating financial and real causes, historical episodes, and linkages as well as domino effects. It clearly illuminates the background of our recent crisis by offering clear theoretical, empirical, and historical views of its remote causes. It cannot be absent from any economist's bookshelf."--Mauro Gallegati, Università Politecnica delle Marche

Table of Contents

Safeguarding Global Financial Security (38 articles)