This paper looks into the relationship between financial globalization and China's economic development. The authors suggest that China may need to reform its financial institutions and systems to accommodate more market ...

With a focus on the Asian economies, the authors examine how policy configurations affect macroeconomic performances by using Aizenman et al.'s "trilemma indexes" that measure the extent of achievement in each of the ...

The paper investigates the role of budget balances, financial development and openness in the evolution of global imbalances. The authors examinine the effect of different types and aspects of financial development using ...

The authors develop a methodology to characterize in an intuitive manner the choices countries have made with respect to the trilemma during the post Bretton-Woods period.

The authors use updated data to re-examine the determinants of current account balances. They find that changes in budget balances in 2008-09 appear to have an effect in advanced current account deficit countries such as ...

The authors examine links between capital account liberalization, legal and institutional development and financial development. They explore financial opening and equity market development, whether opening the goods ...

The authors characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans developed and emerging market economies. The measured ex post uncovered ...

In creating an index that measures the extent of openness in capital account transactions, the authors address the lack of proper ways of measuring the extent of the openness in cross-border financial transactions. The ...

The authors consider the origins of global current account imbalances and find that for industrial countries, the government budget balance is an important determinant of the current account balance. Their estimates lead ...

Through investigation of the medium-term determinants of the current account the authors find that for industrial countries, the government budget balance is an important determinant of the current account balance. ...