International Finance

    When capital markets are global, asset pricing is global. When money markets are global, the cost of funds is global. Globalization creates new opportunities and new constraints for both private and public borrowers. The question is how local institutions shape the effects of globalization.

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    Unstable Capital Flows Threaten Emerging Economies

    It’s not just Turkey­—from India to Indonesia, external financial liabilities are a looming threat Read more