Financial Globalization: Some Conceptual Problems

Philip Arestis and Santonu Basu

Economics Working Paper Archive from Levy Economics Institute, The

Abstract: In recent years free movement of financial capital following financial liberalization has given the impression that financial markets are truly globalized. In this paper we argue that free movement of financial capital alone does not constitute financial globalization. To achieve true financial globalization, an important requirement is the creation of a worldwide single currency, managed by a single international monetary authority. This condition, however, is not met under current institutional arrangements.

New Economics Papers: this item is included in nep-fmk, nep-ifn and nep-mac
Date: 2002-10

Downloads: (external link)
http://www.levy.org/pubs/wp360.pdf (application/pdf)

Related works:
Working Paper: FINANCIAL GLOBALIZATION: SOME CONCEPTUAL PROBLEMS (2003)
Journal Article: Financial Globalization: Some Conceptual Problems (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:lev:wrkpap:360

Access Statistics for this paper

More papers in Economics Working Paper Archive from Levy Economics Institute, The
Series data maintained by Barbara Murphy ().