Fed's Mishkin: Globalization & fin. development

In the speech 'Globalization and financial development' given on 26 April Frederic Mishkin of the Federal Reserve said developing countries need to develop their financial infrastructure to get wealthier and the answer is globalisation.

"Wealth is not something that can be attained by remaining closed off to the rest of the world," Mishkin said in the speech to the International Monetary Fund's financial globalization conference.

Mishkin said developing countries are often hindered by "vested

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