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Financial Market Globalization, Deglobalization Policies and Growth
Ho, Wai Hong
2022
Source PublicationEconomica
ABS Journal Level3
ISSN0013-0427
Volume89Issue:356Pages:1024-1049
Abstract

This paper develops a world economy growth model to explore the consequences of financial market globalization. The model consists of small open countries that are plagued by domestic credit market imperfection and are connected via knowledge spillovers. When knowledge diffuses from the technology leader to the world as an international public good, the model predicts that financial market globalization promotes growth despite uphill credit flows dividing the world economy into a high-income core and a low-income periphery. But the associated world growth rate is not optimal. Barriers to cross-border credit flows can give rise to a higher worldwide rate of growth through which all countries can benefit.

DOI10.1111/ecca.12434
URLView the original
Indexed BySSCI
Language英語English
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000810768300001
Scopus ID2-s2.0-85131810636
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Citation statistics
Cited Times [WOS]:1   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF ECONOMICS
AffiliationUniversity of Macau, Macao
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Ho, Wai Hong. Financial Market Globalization, Deglobalization Policies and Growth[J]. Economica,2022,89(356):1024-1049.
APA Ho, Wai Hong.(2022).Financial Market Globalization, Deglobalization Policies and Growth.Economica,89(356),1024-1049.
MLA Ho, Wai Hong."Financial Market Globalization, Deglobalization Policies and Growth".Economica 89.356(2022):1024-1049.
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