Aspects of Globalisation: Macroeconomic and Capital Market Linkages in the Integrated World Economy / Edition 1

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The aim of this collection of original papers is to provide a fairly broad sample of advanced research work related to key economic and capital-market aspects of international integration. Such aspects include labour and capital mobility, foreign direct investment, European integration, global capital market linkages and banking, dollarisation of the Americas, and the East Asian crises. Such issues continue to dominate the headlines in both policy-making and academic debates. Reflecting on the breadth of its scope, Aspects of Globalisation is intended to serve a varied audience. Being at the forefront of research, it should appeal to academics, researchers and postgraduate students interested in new approaches and ideas for future research. To this end, the editors have encouraged the contributors to pursue varied themes and raise new issues, approach their subject matter in an analytically rigorous way, and to include fairly extended review sections within their papers, so as to make them useful to a wider readership. Furthermore, diverse methodologies are followed, including the widespread use of state-of-the-art econometrics, reflecting the recent trend in economic analysis. Equally importantly, many of the papers offer clear-cut policy conclusions and should therefore be of direct relevance to policy-minded analysts and policy-makers. We thus hope that the papers included here will provoke further research and ideas as well as contribute to ongoing policy debates. Its diversity, rigour and scope should be positive attributes of the volume and should make it a useful source of information for researches and policy-makers alike.

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Product Details

  • ISBN-13: 9781402073649
  • Publisher: Springer US
  • Publication date: 12/31/2003
  • Series: Studies in Philosophy and Religion Series
  • Edition description: 2004
  • Edition number: 1
  • Pages: 248
  • Product dimensions: 9.21 (w) x 6.14 (h) x 0.75 (d)

Table of Contents

List of Figures
List of Tables
List of Contributors
Ch. 1 Introduction 1
Ch. 2 International Migration in A Growing World Economy: A Simple Analytical Framework 13
Ch. 3 Saving-Investment Cointegration Revisited: Implications for Capital Mobility, External Solvency and the Intertemporal Approach 29
Ch. 4 Is the Feldstein-Horioka Puzzle Really a Puzzle? 49
Ch. 5 Twin Deficits, Real Interest Rates and International Capital Mobility 67
Ch. 6 The Determinants of Foreign Direct Investment: A Panel Data Study for the OECD Countries 83
Ch. 7 European Integration and Foreign Direct Investment 103
Ch. 8 Transparency and the Strategic Use of Private Information in Monetary Policy: A Particular European Problem? 121
Ch. 9 Eurobond Market Integration 151
Ch. 10 Contextualising Bank Failures: An International Comparison 165
Ch. 11 The Prospect of Dollarization: Are the Americas an Optimum Currency Area? 183
Ch. 12 The Genesis of the South-East Asian Crisis: The External Solvency of the Tiger Economies 201
Ch. 13 Feedbacks between Stock Prices and Exchange Rates 215
Index 243
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