Series: IMF Working Papers
Author(s): Marco Terrones , Eswar Prasad , and Ayhan Kose
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2003
Keywords: Financial Globalization, Macroeconomic Fluctuations, Income and Consumption Volatility, International Risk Sharing, financial integration, output volatility, capital flows, trade openness, trade integration, Financial Aspects of Economic Integration
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First,...