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Financial globalization and the emerging economies

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  • ECLAC

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Abstract

This document has been prepared and published jointly by the Economic Commission for Latin America and the Caribbean (ECLAC); and the International Jacques Maritain Institute. Its contents were edited by José Antonio Ocampo, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC);; Stefano Zamagni, Professor of Economics at the University of Bologna; Ricardo Ffrench-Davis, Principal Regional Adviser of ECLAC; and Carlo Pietrobelli, Professor of Development Economics at the University of Molise, Campobasso. Foreword Financial globalization has been a most dynamic component of the continued globalization experienced by the world in recent years. Capital flows to a large number of emerging economies expanded rapidly during the 1990s. Such capital surges were often followed by financial crisis affecting several emerging economies of Asia and Latin America in the 1990s. There is a broad recognition that financial instability is deeply rooted in the present operation of markets, which has brought consensus on the need to examine the issue in depth, in order to urgently find better solutions for crises prevention and crises management. The meetings of International Financial Institutions, G-7 and various groupings of developing economies have directed their attention to this issue. This collection of essays results from an international conference convened by ECLAC and the International Jacques Maritain Institute of Rome in Santiago de Chile in 1999. This conference brought together policy-makers, academics, members of international institutions (BIS, EBRD, IMF, OECD);, and social actors (mass media, labour unions, churches and financial activity);. The book includes four parts. The Introduction collects the opening statements in the conference. Part I contains a discussion of the issues and proposals on how to reform the international financial structure. Part II discusses the national policies to face financial instability, and their role in stabilizing capital flows. Part III includes statements by different social actors on their views on financial globalization and their messages to policy-makers. Santiago, Chile, January 2000

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  • -, 2000. "Financial globalization and the emerging economies," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2216 edited by Eclac, November.
  • Handle: RePEc:ecr:col015:2216
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    1. Ofori, Isaac K. & Armah, Mark K. & Asmah, Emmanuel E., 2021. "Towards the Reversal of Poverty and Income Inequality Setbacks Due to COVID-19: The Role of Globalisation and Resource Allocation," MPRA Paper 108619, University Library of Munich, Germany.
    2. Augusto De La Torre & Sergio L. Schmukler, 2004. "Whither Latin American Capital Markets?," World Bank Publications, The World Bank, number 25933, July.
    3. Galea, Sandro & Freudenberg, Nicholas & Vlahov, David, 2005. "Cities and population health," Social Science & Medicine, Elsevier, vol. 60(5), pages 1017-1033, March.
    4. Vennesson Pascal, 2010. "Military Strategy in the Global Village," New Global Studies, De Gruyter, vol. 3(3), pages 1-43, February.
    5. Caliz, Cristina & Quintanilla, Javier & Pin, Jose R., 2001. "Influencia de la nueva economía en la dirección de personas," IESE Research Papers D/440, IESE Business School.
    6. Millard, Edward, 2017. "Still brewing: Fostering sustainable coffee production," World Development Perspectives, Elsevier, vol. 7, pages 32-42.
    7. Balli, Faruk & Pericoli, Filippo M. & Pierucci, Eleonora, 2018. "Globalization and international risk-sharing: The role of social and political integration," European Journal of Political Economy, Elsevier, vol. 55(C), pages 324-345.
    8. Kardes, Ilke, 2016. "Reaching middle class consumers in emerging markets: Unlocking market potential through urban-based analysis," International Business Review, Elsevier, vol. 25(3), pages 703-710.

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