Capital-market Liberalization, Globalization, and the IMF

By Joseph E. Stiglitz. 2004

340 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/7298d9cb10254035b0e1a7ddd24274de99f15e0d

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Citations in the corpus

When Globalization Discontent Turns Violent: Foreign Economic Liberalization and Internal War (2007, background): “As Stiglitz (2004) maintains, aggregate analyses of the effect of investment on economic growth often encounter that the influences of the two forms of international exchange cancel each other out.”
Financial Globalization and Economic Policies (2009, positive): “Information asymmetries stemming from a lack of transparency in financial institutions could lead to inefficient allocation of financial flows, generate maturity mismatches, and result in costly crises (Stiglitz, 2004).”
Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience (2018, background): “The procyclical nature of capital flows, which are driven by ‘push’ rather than ‘pull’ factors, has been discussed extensively in the literature, including by mainstream economists (e.g. Agénor 1998, Stiglitz 2004, Cerutti et al. 2015) 21.”
Risk and Global Economic Architecture: Why Full Financial Integration May Be Undesirable (2010, background): “An analysis of financial integration should weigh the costs with the benefits and begin by asking if there are ways of designing the financial architecture that minimize the downside risk while preserving as much of the upside potential as possible.”
Growth, productivity and capital accumulation: The effects of financial liberalization in the case of European integration (2013, background): “…influence of financial globalization has been found in enhanced financial instability (Bhagwati, 1998; Neumann, Penl, & Tanku, 2009; Rodrik, 1998; Stiglitz, 2004) and increased volatility of industrial production (Levchenko, Rancière, & Thoenig, 2009).3 Moreover, due to increased volatility and…”
Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets (2011, positive): “For example, Kang and Stulz (1997) find that foreign investors in Japan overallocate their portfolios to firms with low unsystematic risk.”