Does Financial Globalization Induce Better Macroeconomic Policies?

Does Financial Globalization Induce Better Macroeconomic Policies?
Monetary and fiscal policies around the world are in better shape today than two decades ago. This paper studies whether financial globalization has helped induce governments to pursue better macroeconomic policies (the "discipline effect"). The empirical tests have two innovations. First, we recognize potential endogeneity of the observed... READ MORE...

Publication date: May 2004
ISBN 9781451850673
$15.00

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