Publication
Title
Multiple equilibria in the dynamics of financial globalization
Author
Abstract
It is often argued that financial globalization involves threshold effects: countries should have a minimum level of preconditions in place before they can reap the benefits of financial integration. We investigate what this means for the dynamics of de facto financial globalization, using recently developed threshold and sample splitting methods. We find that there are indeed signs of multiple equilibria in the dynamics of financial integration. We confirm that the main cause for these non-linearities is the quality of the institutional context, as measured by corruption, investment profile, capital account balance and aggregate growth prospects
Language
English
Source (series)
WEF working paper series; 44
Publication
London : World Economy and Finance Programme, 2008
Volume/pages
26 p.
Full text (open access)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Record
Identification
Creation 04.11.2008
Last edited 04.09.2013
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