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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Published in | Globalizing in Hard Times p. 1 |
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Main Author | |
Format | Book Chapter |
Language | English |
Published |
United States
Cornell University Press
22.10.2009
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Edition | 1 |
Subjects | |
Online Access | Get full text |
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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. |
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ISBN: | 9780801447556 0801447550 |