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Globalization and financial development

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Author Info

  • Mishkin, Frederic S.

Abstract

This paper argues that globalization is a key factor in stimulating institutional reforms in developing countries that promote financial development and economic growth. Advanced countries can help in this process by supporting the opening of their markets to goods and services from emerging-market countries. By encouraging these countries to increase their participation in global markets, advanced countries can create exactly the right incentives for developing countries to implement the reforms that will enable them to have high economic growth.

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File URL: http://www.sciencedirect.com/science/article/B6VBV-4R53T4S-1/2/62e7ee011c98094c725edff1de6ddeaa
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Bibliographic Info

Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 89 (2009)
Issue (Month): 2 (July)
Pages: 164-169

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Handle: RePEc:eee:deveco:v:89:y:2009:i:2:p:164-169

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Web page: http://www.elsevier.com/locate/devec

Related research

Keywords: Globalization Financial development Trade liberalization Economic growth Institutional reform;

References

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Citations

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Cited by:
  1. Morgan Bazilian & Patrick Nussbaumer & Giorgio Gualberti & Erik Haites & Michael Levi & Judy Siegel & Daniel M. Kammen & Joergen Fenhann, 2011. "Informing the Financing of Universal Energy Access: An Assessment of Current Flows," Working Papers 2011.56, Fondazione Eni Enrico Mattei.
  2. Siong Hook Law & Hui Boon Tan, 2009. "The Role Of Financial Development On Income Inequality In Malaysia," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(2), pages 153-168, December.
  3. Nuri Yildirim & Huseyin Tastan, 2012. "Capital Flows and Economic Growth across Spectral requencies: Evidence from Turkey," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(4), pages 441-462, September.
  4. Mollick, André Varella & Cabral, René & Carneiro, Francisco G., 2011. "Does inflation targeting matter for output growth? Evidence from industrial and emerging economies," Journal of Policy Modeling, Elsevier, vol. 33(4), pages 537-551, July.
  5. Narjess Boubakri & Jean-Claude Cosset & Nassima Debab & Pascale Valéry, 2011. "Privatization and Globalization: an Empirical Analysis," Cahiers de recherche 1130, CIRPEE.

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