(Ebook) Globalization and National Financial Systems by James A. Hanson, Patrick Honohan, Giovanni Majnoni ISBN 9780821352083, 0821352083

(Ebook) Globalization and National Financial Systems by James A. Hanson, Patrick Honohan, Giovanni Majnoni ISBN 9780821352083, 0821352083

Finance is a key dimension of globalization, given the ease with which capital flows between countries and the impact such flows can have on countries with weak national financial systems.. Yet analysts and policy-makers often remain focused on the domestic financial market until a crisis, seemingly still thinking of finance as primarily national. The result is that they behave reactively and often belatedly to the pressures from abroad. Globalization and National Financial Systems breaks new ground by exploring the new challenges, constraints, and opportunities presented to the national financial systems of developing countries, all of which are small when viewed against the background of global finance. Banking, securities, contractual savings, as well as systemic macroeconomic aspects are all considered. In its discussion of such dimensions as creeping dollarization, offshore deposits, foreign bank entry, international outsourcing of financial services, the role of economies of scale and international risk diversification, and the emergence of an international regulatory framework, the volume takes the reader far beyond standard treatments of financial policy. It is an excellent resource for banking and investment professionals, economists, and all those interested in globalization and emerging economies.