publication . Article . 2004

Financial globalization: gain and pain for developing countries

Sergio L. Schmukler;
Open Access
  • Published: 01 Jan 2004
Economies around the world are becoming increasingly interconnected by the unprecedented breadth and depth of financial globalization. Developed countries tend to be most actively involved in cross-country capital movement, but in recent years developing countries have begun to participate in the process. ; This article focuses on the integration of developing countries into the international financial system. It examines recent developments and the principal agents of financial globalization as well as globalization’s effect on the domestic financial sector. Financial liberalization tends to develop the financial system, enhancing financing opportunities, reduc...
free text keywords: Economic stabilization ; Globalization
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