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Globalization and financial development

  • Mishkin, Frederic S.

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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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
Contact details of provider: Web page: http://www.elsevier.com/locate/devec

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