Globalization and financial development

• 成果类型: Article; Proceedings Paper
• 署名作者: Mishkin, Frederic S.
• 署名单位: Federal Reserve System - USA
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2007.11.004
• 发表日期: 2009
• 页码: 164-169
• 关键词: globalization; financial development; trade liberalization; Economic growth; Institutional reform

摘要

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. Published by Elsevier B.V.