Financial Integration, Growth and Macroeconomic Volatility: Evidence and Interpretations
by NSER Editorial Board on January 12, 2009
Has the increased access to capital increased investment? Is increased financial globalization associated with economic growth and macroeconomic stability? This paper reviews the theoretical benefits of financial integration, the “consensus” evidence of its failure to deliver the expected growth and stability, and some alternative interpretations on what is missing to obtain the benefits and avoid the risks.
Marca, Massimiliano La. 2004. “Financial Integration, Growth and Macroeconomic Volatility: Evidence and Interpretations” New School Economic Review 1(1): 31-41
Tags: Capital Investment, FDI, Financial Integration, Globalization, Growth, Macroeconomics
