Financial Globalization: Some Conceptual Problems

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Financial Globalization: Some Conceptual Problems

Author Info

Philip Arestis () (Levy Economics Institute)
Santonu Basu (South Bank University)

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Abstract

In recent years free movement of financial capital following financial liberalization has given the impression that financial markets are truly globalized. In this paper we argue that free movement of financial capital alone does not constitute financial globalization. To achieve true financial globalization, an important requirement is the creation of a worldwide single currency, managed by a single international monetary authority. This condition, however, is not met under current institutional arrangements.

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Publisher Info
Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 29 (2003)
Issue (Month): 2 (Spring)
Pages: 183-189
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Handle: RePEc:eej:eeconj:v:29:y:2003:i:2:p:183-189

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Related research
Keywords: Globalization;

Other versions of this item:

Article
Paper
- Philip Arestis & Santonu Basu, 2002. "Financial Globalization: Some Conceptual Problems," Economics Working Paper Archive 360, Levy Economics Institute, The. [Downloadable!]
- Philip Arestis & Santonu Basu, 2003. "Financial Globalization: Some Conceptual Problems," International Trade 0301002, EconWPA. [Downloadable!]

Find related papers by JEL classification:
F30 - International Economics - - International Finance - - - General
G0 - Financial Economics - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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Other versions:
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Other versions:
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Barry Eichengreen & Michael D. Bordo, 2002. "Crises Now and Then: What Lessons from the Last Era of Financial Globalization," NBER Working Papers 8716, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Basu, Santonu, 1994. "Deregulation of the Australian Banking Sector: A Theoretical Perspective," Australian Economic Papers, Blackwell Publishing, vol. 33(63), pages 272-85, December.
Saint-Paul, Gilles, 1992. "Technological choice, financial markets and economic development," European Economic Review, Elsevier, vol. 36(4), pages 763-781, May. [Downloadable!] (restricted)
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Levine, Ross & Zervos, Sara, 1996. "Stock Market Development and Long-Run Growth," World Bank Economic Review, Oxford University Press, vol. 10(2), pages 323-39, May.
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Philip Arestis, Santonu Basu, 2003. "Financial Globalization and Regulation," Economics Working Paper Archive 397, Levy Economics Institute, The. [Downloadable!]
Other versions:
- Philip Arestis & Santonu Basu, 2004. "Financial Globalization and Regulation," International Finance 0401003, EconWPA. [Downloadable!]
- Arestis, Philip & Basu, Santonu, 2004. "Financial globalisation and regulation," Research in International Business and Finance, Elsevier, vol. 18(2), pages 129-140, June. [Downloadable!] (restricted)
Bonpasse, Morrison, 2009. "The single global currency - common cents for the world (2008 Edition)," MPRA Paper 14756, University Library of Munich, Germany. [Downloadable!]
Other versions:
- Bonpasse, Morrison, 2007. "The Single Global Currency - Common Cents for the World (2007 Edition)," MPRA Paper 5879, University Library of Munich, Germany. [Downloadable!]
Bonpasse, Morrison, 2006. "The Single Global Currency: Common Cents for the World," MPRA Paper 1175, University Library of Munich, Germany. [Downloadable!]

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