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Globalization and Systemic Risk

Edited by Douglas Evanoff, David S Hoelscher and George G Kaufman

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: The impact of globalization of financial markets is a highly debated topic, particularly in recent months when the issue of globalization and contagion of financial distress has become a focus of intense policy debate. The papers in this volume provide an up-to-date overview of the key issues in this debate. While most of the contributions were prepared after the initial outbreak of the current global turmoil and financial crisis, they identify the relative strengths of the risk diversification and risk transmission processes and examine the empirical evidence to date. The book considers the relative roles of banks, nonbank financial institutions and capital markets in both risk diversification and risk transmission. It then evaluates the current status of crisis resolution in a global context, and speculates where to go from here in terms of understanding, resolution, prevention and public policy.

Keywords: Globalization; Banking; Financial Markets; Systemic Risk; Financial Crisis; Contagion (search for similar items in EconPapers)
Date: 2009
ISBN: 9789812833372
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Chapters in this book:

Ch 1 Through the Looking Glass: The Links between Financial Globalization and Systemic Risk , pp 3-10 Downloads
John Lipsky
Ch 2 The Current Financial Crisis: Will Latin America Be Caught in the Web, Again? , pp 11-25 Downloads
Guillermo Calvo
Ch 3 Remarks on Systemic Risk and the International Lender of Last Resort , pp 27-37 Downloads
Frederic Mishkin
Ch 4 The Crisis of 2007: The Same Old Story, Only the Players Have Changed , pp 39-50 Downloads
Michael D. Bordo
Ch 5 Financial Globalization and Stability , pp 53-83 Downloads
Falko Fecht, Hans-Peter Grüner, Philipp Hartmann and Marco Lo Duca
Ch 6 Does Financial Integration Improve Countries' Growth Opportunities? , pp 85-95 Downloads
Gianni De Nicolò
Ch 7 Financial Globalization in the Asian Region , pp 97-112 Downloads
Philip Lowe
Ch 8 The Current State of Financial Globalization — Good News, and Bad , pp 113-117 Downloads
Gerard Caprio
Ch 9 Incentive Conflict in Central Bank Responses to Sectoral Turmoil in Financial Hub Countries , pp 121-144 Downloads
Edward Kane
Ch 10 Systemic Risk and Prudential Regulation in the Global Economy , pp 145-167 Downloads
Xavier Freixas
Ch 11 The Broad Yen Carry Trade , pp 169-189 Downloads
Hyun Song Shin and Masazumi Hattori
Ch 12 Systemic Risk in a Global Context: Comment on Freixas, Hattori and Shin, and Kane , pp 191-203 Downloads
Richard J. Herring
Ch 13 Remarks on Globalization and Systemic Risk: Nonbank Financial Intermediaries , pp 207-216 Downloads
Julian Adams
Ch 14 Globalization Duality and Nonbank Financial Intermediaries , pp 217-224 Downloads
Mohamed A. El-Erian
Ch 15 Pension Plans and Systemic Risk , pp 225-229 Downloads
Dennis E. Logue
Ch 16 International Integration, Common Exposure and Systemic Risk in the Banking Sector , pp 233-249 Downloads
Nicole Allenspach and Pierre Monnin
Ch 17 The Systemic Risk Implications of Originate and Distribute , pp 251-273 Downloads
Andrew Haldane
Ch 18 Quantitative Modeling of Systemic Risk in a Globalized Banking System: Methodological Challenges , pp 275-290 Downloads
Martin Summer
Ch 19 Globalization and Systemic Risk , pp 291-296 Downloads
Grant Spencer
Ch 20 The Sub-Prime Crisis and Systemic Risk: Evidence from US Securities Markets , pp 299-312 Downloads
Leonce Bargeron, Kenneth Lehn and Mehmet Yalin
Ch 21 Systemic Risks in Our Global Marketplace , pp 313-330 Downloads
Chester S. Spatt
Ch 22 What Can Central Bankers Learn from Hedge Fund Replication Strategies? , pp 331-347 Downloads
David A. Hsieh
Ch 23 Comments on Session VI: Globalization and Systemic Risk — Capital Markets , pp 349-353 Downloads
Liliana Rojas-Suarez
Ch 24 Global Crisis Management , pp 357-360 Downloads
John Lane
Ch 25 EU Financial-Stability Framework: Analytical Benchmarks for Assessing Its Effectiveness , pp 361-378 Downloads
María J. Nieto and Garry Schinasi
Ch 26 Crisis Resolution in a Global Context: Regulation and Supervision for Cross-Border Banking , pp 379-387 Downloads
Mattias Persson
Ch 27 Crisis Resolution in a Global Context , pp 389-393 Downloads
Pascual O'Dogherty
Ch 28 Speaking Points for Where to Go from Here? Policy Panel , pp 397-402 Downloads
Jaime Caruana
Ch 29 The US Government's Approach to Financial Decisions , pp 403-407 Downloads
Kenneth W. Dam
Ch 30 Globalization and Systemic Risk: Where to Go from Here — Policy Panel , pp 409-414 Downloads
William L. Rutledge
Ch 31 Comments on Session VIII: Where to Go from Here — Policy Panel , pp 415-427 Downloads
Andrew Sheng
Ch 32 Basel II, Regulation and the Sub-Prime “Crisis” , pp 429-436 Downloads
Michael W. Taylor

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