漫谈金融全球化-NBER.ppt

漫谈金融全球化 魏尚进 纯属个人观点, 言责自负 文献小结: 金融全球化, 理论上好处一条接一条; 费尽吃奶尽, 实证的效果不妙也不巧. 综述文章: Prasad, Rogoff, Wei, and Kose, IMF, 2003 Kose, Prasad, Rogoff, and Wei, 2005 (JEL?) Benefits of Financial Integration: Theory Direct Channels Efficient international allocation of capital For capital-poor economies—lower cost of capital, higher investment Spillovers of technological and managerial expertise Benefits of Financial Integration: Theory Indirect Channels Domestic financial sector development Specialization Disciplining device for macro policies Benefits of Financial Integration: Theory Effects on