THE POLITICS OF BANKING-SECTOR OPENING IN THE EMERGING WORLD

Financial globalization—the reduction of regulatory and technological barriers that makes possible the unfettered movement of capital across national borders—is one of the most powerful, transformative forces of our time. It has made the global economy more dynamic and more productive, but also more...

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Bibliographic Details
Published inGlobalizing in Hard Times p. 1
Main Author Leonardo Martinez-Diaz
Format Book Chapter
LanguageEnglish
Published United States Cornell University Press 22.10.2009
Edition1
Subjects
Administrative law
Bank assets
Bank capital
Bank management
Banking
Banking crises
Banking legislation
Banking policy
Banking reforms
Banking regulation
Banks
Central banks
Commercial banking
Commercial regulation
Congressional legislation
Development studies
Economic conditions
Economic crises
Economic disciplines
Economic legislation
Economic regulation
Economics
Financial economics
Financial legislation
Globalization
International development
Law
Legislation
Liberalization
Political change
Political processes
Political science
Politics
Social sciences
Statutory law
World Bank
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Summary:Financial globalization—the reduction of regulatory and technological barriers that makes possible the unfettered movement of capital across national borders—is one of the most powerful, transformative forces of our time. It has made the global economy more dynamic and more productive, but also more unstable, than in any period since the late nineteenth century. Financial globalization has also challenged the capacity of governments to control financial and monetary variables, throwing into question what it means to be a sovereign state in a world where market participants have vastly enhanced options for circumventing and exploiting gaps in national regulatory frameworks.
ISBN:9780801447556
0801447550