The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration. Indeed, a new literature proposes that the indirect benefits of financial integration may be more important than the traditional financing channel emphasized in...
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2009/12/01
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Documento de trabalho sobre pesquisa de políticas
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WPS5149
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1
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1
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2010/07/01
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Disclosed
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Thresholds in the process of international financial integration
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financial openness
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