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Financial Globalization

In: Globalization and the State: Volume II

Author

Listed:
  • Carlos M. Peláez
  • Carlos A. Peláez

Abstract

Economists are in general in favor of the benefits resulting from greater global integration of trade. There is no agreement on the benefits of financial globalization. The gains from trade are derived from an extension to foreign markets of the benefits of the expansion of the market by specialization within the nation state. The benefits of finance for efficiency and growth constitute the basis of the argument for freer capital markets. The empirical evidence on the efficiency and growth effects of financial liberalization is still debated by the profession.

Suggested Citation

  • Carlos M. Peláez & Carlos A. Peláez, 2008. "Financial Globalization," Palgrave Macmillan Books, in: Carlos M. Peláez & Carlos A. Peláez (ed.), Globalization and the State: Volume II, chapter 3, pages 73-113, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22829-0_4
    DOI: 10.1057/9780230228290_4
    as

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