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Effect of Globalization on Other Countries

Some Empirical Evidence

Eswar Prasad, Kenneth Rogoff, Shang-Jin Wei, M. Ayhan Kose

Paper  590kb pdf

This paper provides a review of recent empirical evidence, including some new
research, on the effects of financial globalization for developing economies. The paper
focuses on three questions:
(i) Does financial globalization promote economic growth in developing countries?
(ii) What is its impact on macroeconomic volatility in these countries?
(iii) What factors can help to harness the benefits of financial globalization?

About the Authors

Eswar Prasad
Tolani Senior Professor of Trade Policy
Cornell University

Kenneth Rogoff
Professor, Department of Economics
Harvard University

Shang-Jin Wei
The Jerome A. Chazen Institute of International Business

M. Ayhan Kose
Economist, Financial Studies Division
International Monetary Fund

Publication Information

Type Network Paper
Program Capital Market Liberalization
Posted 03/17/03
Download 590kb pdf
# Pages 86