This book presents an economic survey of international capital
mobility from the late nineteenth century to the present. The authors
examine the theory and empirical evidence surrounding the fall and
rise of integration in the world market. A discussion of institutional
developments focuses on capital controls and the pursuit of
macroeconomic policy objectives in shifting monetary regimes. The
Great Depression emerges as the key turning point in recent history of
international capital markets, and offers important insights for
contemporary policy debates. Its principal legacy is that the return
to a world of global capital is marked by great unevenness in outcomes
regarding both risks and rewards of capital market integration. More
than in the past, foreign investment flows largely from rich countries
to other rich countries. Yet most financial crises afflict developing
countries, with costs for everyone.
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Produktdetaljer
ISBN
9780511188978
Publisert
2013
Utgave
1. utgave
Utgiver
Vendor
Cambridge University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter