Private capital flows to developing countries: The road to financial integration
The world's financial markets are rapidly integrating into a single global marketplace, and developing countries are being drawn into this process starting from different points and moving at various speeds. Those with adequate institutions and sound policies in place may proceed smoothly along...
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| Format: | Book |
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| Language: | Undetermined |
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New York
Oxford University Press for the World Bank
1997
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| Institutions: | Trung tâm Học liệu Trường Đại học Cần Thơ |
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| Summary: | The world's financial markets are rapidly integrating into a single global marketplace, and developing countries are being drawn into this process starting from different points and moving at various speeds. Those with adequate institutions and sound policies in place may proceed smoothly along the road toward financial integration and gain the many benefits that integration can bring. Most of the developing economies lack many of the necessary prerequisites for such a move; a few are so unprepared that integration may do them more harm than good. Developing countries may have little choice about whether to follow this path--advances in communications and new developments in finance have made the course inevitable--but they may still choose the ways in which they proceed, choosing the policies that benefit the economy and averting potential shocks. |
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