Global Capital Markets: Integration, Crisis, and Growth

By M. Obstfeld, Alan M. Taylor. 2004

429 citations recorded by the source corpus.

Subfields: Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/db9ff224898ca404bdfe76b0ded5c88f286be077

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Finance

In Strategy and Management

Citations in the corpus

Exchange rate dynamics in a peripheral monetary economy (2013, neutral): “…issued by these countries in the portfolios of investors in the core economies over the 1990s and 2000s, this participation is still residual (Obstfeld and taylor, 2004).9 In these sense, these countries are price takers. the mutually reinforcing monetary and financial asymmetries have two…”
Foreign currency debt, financial crises and economic growth: A long-run view (2010, background): “…public and private issues of debt purged of any refinancing issues.37 The conventional wisdom for the period is that these gross flows were roughly equal to net flows for the capital importers (cf. Obstfeld and Taylor, 2004).38 The data for 1973–2003 are based on Lane and Milesi-Ferretti (2006).”
Is Financial Globalization Beneficial (2007, background): “As is documented in Obstfeld and Taylor (2004), financial globalization is primarily confined to rich countries.”
On the global financial market integration “swoosh” and the trilemma (2019, methodology): “…null hypotheses that de facto global financial market integration over the last century is characterised by a U-shape process, as hypothesised by e.g. Bordo and Flandreau (2003), Obstfeld and Taylor (2003, 2004), and Goetzmann et al. (2005), or by a J-shape process, as posited by Volosovych (2011).”
International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global? (2007, neutral): “2 For a historical perspective on globalization, see for example Baldwin and Martin (1999), Bordo and others (1999), Lothian (2002), and Obstfeld and Taylor (2004).”
Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence (2015, positive): “The corollary is that if there are free capital flows, it is possible to have independent monetary policies only by having the exchange rate float; and conversely, that floating exchange rates enable monetary policy independence (see e.g., Obstfeld and Taylor 2004).”
Understanding Banking Sector Globalization (2009, neutral): “…online 3 February 2009 The past two decades have experienced a resurgence of internationalbanking, continuing a well-documented general expansion of international financial integration within what has become known as the ‘‘second age of globalization’’ (Obstfeld and Taylor, 2004).”
The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility (2004, neutral): “Finally, our findings can be compared with historical narratives (e.g., Eichengreen 1996; Obstfeld and Taylor 2004).”
The Sociology of Finance (2011, background): “Finance represents a leading edge of globalization (LiPuma & Lee 2004, pp. 5–6; Obstfeld & Taylor 2004, pp. 27–28).”
Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation (2008, neutral): “See Henry and Lorentzen (2003) and Obstfeld and Taylor (2004). not available for most countries for long periods of time.”