Central Banking

Is financial globalisation worth it?

A paper from the IMF reviews the recent empirical literature on financial globalisation and finds qualified support for the view that developing countries can benefit from financial globalisation.

This conclusion comes with many caveats, however, and there is little systematic evidence, the paper says, to support widely cited claims that financial globalisation by itself leads to deeper and more costly developing country growth crises.

The paper also attempts to provide a unified conceptual

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