Globalization and National Financial Systems
The volume is divided into five traditional areas of finance: the macroeconomy, banking, securities markets, pension issues, and regulations. Four cross-cutting messages emerge. First, the erosion of national frontiers by trade, tourism, migration,...
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| Language: | English en_US |
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Washington, DC: World Bank and Oxford University Press
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/03/2373376/globalization-national-financial-systems http://hdl.handle.net/10986/15160 |
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okr-10986-15160 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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ASSET PRICING AVERAGE COSTS BANK CAPITAL BANK DEPOSITS BANK OF KOREA BANK SIZE BANK SUPERVISION BANKING INDUSTRY BANKING SERVICES BANKING SYSTEMS BANKS BORROWING CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL ACCOUNTS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK CENTRAL BANK ISSUES COMMERCIAL BANKS CONSUMPTION SMOOTHING CONTAGION CORPORATE FINANCE CREDIT RISK CURRENCY ASSETS CURRENCY BOARD CURRENCY RISK CURRENT ACCOUNT DEBT DEBT CRISIS DEFICITS DEPOSIT DOLLARIZATION DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT STRATEGY DIRECTED CREDIT REQUIREMENTS DOMESTIC FINANCIAL SECTOR DOMESTIC FINANCIAL SYSTEM DOMESTIC FINANCIAL SYSTEMS ECONOMETRICS ECONOMIC FLUCTUATIONS ECONOMIC POLICY ECONOMIC RESEARCH ECONOMICS RESEARCH ECONOMIES OF SCALE EMPIRICAL EVIDENCE EQUITY MARKETS EXCHANGE CONTROLS EXCHANGE RATE EXCHANGE RATE REGIME EXCHANGE RATES FEDERAL RESERVE BOARD FINANCIAL ASSETS FINANCIAL CONTAGION FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL GLOBALIZATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL REPRESSION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL POLICY FLOATING EXCHANGE RATE FLOATING EXCHANGE RATES FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LIABILITIES FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GDP GLOBALIZATION GOVERNMENT BAILOUT GOVERNMENT DEBT GROSS DOMESTIC PRODUCT HIGH INFLATION INDIVIDUAL ACCOUNTS INDUSTRIAL COUNTRIES INFLATION INFLATION TAX INFLATIONARY POLICIES INSURANCE INTEREST RATES INTERNATIONAL BANKING INTERNATIONAL BANKING STATISTICS INTERNATIONAL BOND ISSUES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL CAPITAL MOVEMENTS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL ARCHITECTURE INTERNATIONAL FINANCIAL STATISTICS INTERSTATE BANKING INVESTMENT RATES LIQUIDITY LOCAL CURRENCY LOCAL GOVERNMENT LOW-INCOME COUNTRIES LOW-INCOME ECONOMIES M2 MACROECONOMICS MATURITIES MERGERS MIGRATION MONETARY POLICY MUTUAL FUNDS NOMINAL RATES NONBANK INSTITUTIONS PENSIONS POLICY RESEARCH PORTFOLIO DIVERSIFICATION PORTFOLIOS PRICE STABILITY PRIVATE BANKS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCTION COSTS PRODUCTION EFFICIENCY PUBLIC ENTERPRISES PUBLIC POLICY PUBLIC SECTOR REINSURANCE CONTRACTS RETURN ON ASSETS RISK AVERSE RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SAVINGS INSTITUTIONS SECTOR RESTRUCTURING SECURITIES SECURITIES MARKETS SHORT MATURITIES STABILIZATION PROGRAMS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUBSIDIARY TAXATION TELECOMMUNICATIONS TIME SERIES TRANSPARENCY GLOBALIZATION FINANCIAL SYSTEMS MACROECONOMICS FINANCIAL SECTOR SECURITIES MARKET EQUILIBRIUM DIVERSIFICATION PENSION REFORM PENSIONS PENSION FUNDS TRADE TOURISM MIGRATIONS FINANCIAL ASSETS LIABILITY FOREIGN CURRENCY EQUITY MARKETS MARKET ORIENTATION |
| spellingShingle |
ASSET PRICING AVERAGE COSTS BANK CAPITAL BANK DEPOSITS BANK OF KOREA BANK SIZE BANK SUPERVISION BANKING INDUSTRY BANKING SERVICES BANKING SYSTEMS BANKS BORROWING CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL ACCOUNTS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK CENTRAL BANK ISSUES COMMERCIAL BANKS CONSUMPTION SMOOTHING CONTAGION CORPORATE FINANCE CREDIT RISK CURRENCY ASSETS CURRENCY BOARD CURRENCY RISK CURRENT ACCOUNT DEBT DEBT CRISIS DEFICITS DEPOSIT DOLLARIZATION DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT STRATEGY DIRECTED CREDIT REQUIREMENTS DOMESTIC FINANCIAL SECTOR DOMESTIC FINANCIAL SYSTEM DOMESTIC FINANCIAL SYSTEMS ECONOMETRICS ECONOMIC FLUCTUATIONS ECONOMIC POLICY ECONOMIC RESEARCH ECONOMICS RESEARCH ECONOMIES OF SCALE EMPIRICAL EVIDENCE EQUITY MARKETS EXCHANGE CONTROLS EXCHANGE RATE EXCHANGE RATE REGIME EXCHANGE RATES FEDERAL RESERVE BOARD FINANCIAL ASSETS FINANCIAL CONTAGION FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL GLOBALIZATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL REPRESSION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL POLICY FLOATING EXCHANGE RATE FLOATING EXCHANGE RATES FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LIABILITIES FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GDP GLOBALIZATION GOVERNMENT BAILOUT GOVERNMENT DEBT GROSS DOMESTIC PRODUCT HIGH INFLATION INDIVIDUAL ACCOUNTS INDUSTRIAL COUNTRIES INFLATION INFLATION TAX INFLATIONARY POLICIES INSURANCE INTEREST RATES INTERNATIONAL BANKING INTERNATIONAL BANKING STATISTICS INTERNATIONAL BOND ISSUES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL CAPITAL MOVEMENTS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL ARCHITECTURE INTERNATIONAL FINANCIAL STATISTICS INTERSTATE BANKING INVESTMENT RATES LIQUIDITY LOCAL CURRENCY LOCAL GOVERNMENT LOW-INCOME COUNTRIES LOW-INCOME ECONOMIES M2 MACROECONOMICS MATURITIES MERGERS MIGRATION MONETARY POLICY MUTUAL FUNDS NOMINAL RATES NONBANK INSTITUTIONS PENSIONS POLICY RESEARCH PORTFOLIO DIVERSIFICATION PORTFOLIOS PRICE STABILITY PRIVATE BANKS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCTION COSTS PRODUCTION EFFICIENCY PUBLIC ENTERPRISES PUBLIC POLICY PUBLIC SECTOR REINSURANCE CONTRACTS RETURN ON ASSETS RISK AVERSE RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SAVINGS INSTITUTIONS SECTOR RESTRUCTURING SECURITIES SECURITIES MARKETS SHORT MATURITIES STABILIZATION PROGRAMS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUBSIDIARY TAXATION TELECOMMUNICATIONS TIME SERIES TRANSPARENCY GLOBALIZATION FINANCIAL SYSTEMS MACROECONOMICS FINANCIAL SECTOR SECURITIES MARKET EQUILIBRIUM DIVERSIFICATION PENSION REFORM PENSIONS PENSION FUNDS TRADE TOURISM MIGRATIONS FINANCIAL ASSETS LIABILITY FOREIGN CURRENCY EQUITY MARKETS MARKET ORIENTATION Hanson, James A. Honohan, Patrick Majnoni, Giovanni Globalization and National Financial Systems |
| description |
The volume is divided into five
traditional areas of finance: the macroeconomy, banking,
securities markets, pension issues, and regulations. Four
cross-cutting messages emerge. First, the erosion of
national frontiers by trade, tourism, migration, and capital
account liberalization means that residents of all countries
have substantial financial assets, and often liabilities
denominated in foreign currencies at home or abroad. Any
analysis of national financial systems must take this into
account. More important, this factor constrains
governments' use of macroeconomic and financial policy
and may contribute to economic fluctuations. Second,
individuals and firms benefit substantially from the
improved risk and return menu associated with global
diversification. Diversification is of particular importance
in developing countries where the lack of size and diversity
of the national economy results in instability in the value
of production. Third, the small size of most developing
countries limits the efficiency and quality of financial
services: banking, equity markets, and pensions. Thus
cross-border provision of financial services, one facet of
globalization, has potential benefits for small economies.
Fourth, taking full advantage of the opportunities presented
by globalization and minimizing its costs depend on
effective regulation and supervision to ensure good quality
information, transparency, market integrity, and prudent
investing by banks and pension funds. |
| author2 |
Hanson, James A. |
| author_facet |
Hanson, James A. Hanson, James A. Honohan, Patrick Majnoni, Giovanni |
| format |
Publications & Research :: Publication |
| author |
Hanson, James A. Honohan, Patrick Majnoni, Giovanni |
| author_sort |
Hanson, James A. |
| title |
Globalization and National Financial Systems |
| title_short |
Globalization and National Financial Systems |
| title_full |
Globalization and National Financial Systems |
| title_fullStr |
Globalization and National Financial Systems |
| title_full_unstemmed |
Globalization and National Financial Systems |
| title_sort |
globalization and national financial systems |
| publisher |
Washington, DC: World Bank and Oxford University Press |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2003/03/2373376/globalization-national-financial-systems http://hdl.handle.net/10986/15160 |
| _version_ |
1764425698479439872 |
| spelling |
okr-10986-151602021-04-23T14:03:11Z Globalization and National Financial Systems Hanson, James A. Honohan, Patrick Majnoni, Giovanni Hanson, James A. Honohan, Patrick Majnoni, Giovanni ASSET PRICING AVERAGE COSTS BANK CAPITAL BANK DEPOSITS BANK OF KOREA BANK SIZE BANK SUPERVISION BANKING INDUSTRY BANKING SERVICES BANKING SYSTEMS BANKS BORROWING CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL ACCOUNTS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK CENTRAL BANK ISSUES COMMERCIAL BANKS CONSUMPTION SMOOTHING CONTAGION CORPORATE FINANCE CREDIT RISK CURRENCY ASSETS CURRENCY BOARD CURRENCY RISK CURRENT ACCOUNT DEBT DEBT CRISIS DEFICITS DEPOSIT DOLLARIZATION DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT STRATEGY DIRECTED CREDIT REQUIREMENTS DOMESTIC FINANCIAL SECTOR DOMESTIC FINANCIAL SYSTEM DOMESTIC FINANCIAL SYSTEMS ECONOMETRICS ECONOMIC FLUCTUATIONS ECONOMIC POLICY ECONOMIC RESEARCH ECONOMICS RESEARCH ECONOMIES OF SCALE EMPIRICAL EVIDENCE EQUITY MARKETS EXCHANGE CONTROLS EXCHANGE RATE EXCHANGE RATE REGIME EXCHANGE RATES FEDERAL RESERVE BOARD FINANCIAL ASSETS FINANCIAL CONTAGION FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL GLOBALIZATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL REPRESSION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL POLICY FLOATING EXCHANGE RATE FLOATING EXCHANGE RATES FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LIABILITIES FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GDP GLOBALIZATION GOVERNMENT BAILOUT GOVERNMENT DEBT GROSS DOMESTIC PRODUCT HIGH INFLATION INDIVIDUAL ACCOUNTS INDUSTRIAL COUNTRIES INFLATION INFLATION TAX INFLATIONARY POLICIES INSURANCE INTEREST RATES INTERNATIONAL BANKING INTERNATIONAL BANKING STATISTICS INTERNATIONAL BOND ISSUES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL CAPITAL MOVEMENTS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL ARCHITECTURE INTERNATIONAL FINANCIAL STATISTICS INTERSTATE BANKING INVESTMENT RATES LIQUIDITY LOCAL CURRENCY LOCAL GOVERNMENT LOW-INCOME COUNTRIES LOW-INCOME ECONOMIES M2 MACROECONOMICS MATURITIES MERGERS MIGRATION MONETARY POLICY MUTUAL FUNDS NOMINAL RATES NONBANK INSTITUTIONS PENSIONS POLICY RESEARCH PORTFOLIO DIVERSIFICATION PORTFOLIOS PRICE STABILITY PRIVATE BANKS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCTION COSTS PRODUCTION EFFICIENCY PUBLIC ENTERPRISES PUBLIC POLICY PUBLIC SECTOR REINSURANCE CONTRACTS RETURN ON ASSETS RISK AVERSE RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SAVINGS INSTITUTIONS SECTOR RESTRUCTURING SECURITIES SECURITIES MARKETS SHORT MATURITIES STABILIZATION PROGRAMS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUBSIDIARY TAXATION TELECOMMUNICATIONS TIME SERIES TRANSPARENCY GLOBALIZATION FINANCIAL SYSTEMS MACROECONOMICS FINANCIAL SECTOR SECURITIES MARKET EQUILIBRIUM DIVERSIFICATION PENSION REFORM PENSIONS PENSION FUNDS TRADE TOURISM MIGRATIONS FINANCIAL ASSETS LIABILITY FOREIGN CURRENCY EQUITY MARKETS MARKET ORIENTATION The volume is divided into five traditional areas of finance: the macroeconomy, banking, securities markets, pension issues, and regulations. Four cross-cutting messages emerge. First, the erosion of national frontiers by trade, tourism, migration, and capital account liberalization means that residents of all countries have substantial financial assets, and often liabilities denominated in foreign currencies at home or abroad. Any analysis of national financial systems must take this into account. More important, this factor constrains governments' use of macroeconomic and financial policy and may contribute to economic fluctuations. Second, individuals and firms benefit substantially from the improved risk and return menu associated with global diversification. Diversification is of particular importance in developing countries where the lack of size and diversity of the national economy results in instability in the value of production. Third, the small size of most developing countries limits the efficiency and quality of financial services: banking, equity markets, and pensions. Thus cross-border provision of financial services, one facet of globalization, has potential benefits for small economies. Fourth, taking full advantage of the opportunities presented by globalization and minimizing its costs depend on effective regulation and supervision to ensure good quality information, transparency, market integrity, and prudent investing by banks and pension funds. 2013-08-19T17:01:19Z 2013-08-19T17:01:19Z 2003 http://documents.worldbank.org/curated/en/2003/03/2373376/globalization-national-financial-systems 0-8213-5208-3 http://hdl.handle.net/10986/15160 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank and Oxford University Press Publications & Research :: Publication Publications & Research :: Publication |