Financial Globalization in Emerging Countries: Diversification vs. Offshoring

Francisco Ceballos (), Tatiana Didier () and Sergio Schmukler

No 389, ADBI Working Papers from Asian Development Bank Institute

Abstract: Financial globalization has gathered attention since the early 1990s because of its macro-financial and crisis implications and its perceived large expansion. But financial globalization has taken different forms over time. This paper examines two important concurrent dimensions of financial globalization relevant for emerging countries: diversification and offshoring. We find that globalization via the diversification channel has expanded throughout during the 2000s as domestic residents invested more abroad and foreigners increased their domestic investments. However, financial globalization via offshoring has displayed more mixed patterns, with variations across markets and countries.

Keywords: financial globalization; emerging economies; diversification; offshoring (search for similar items in EconPapers)
JEL-codes: F36 G15 G20 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2012-10-19
New Economics Papers: this item is included in nep-ifn and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.adbi.org/files/2012.10.18.wp389.financi ... erging.countries.pdf Full text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (http://www.adbi.org/files/2012.10.18.wp389.financial.globalization.emerging.countries.pdf [302 Moved Temporarily]--> https://www.adbi.org/files/2012.10.18.wp389.financial.globalization.emerging.countries.pdf [302 Moved Temporarily]--> https://www.adb.org/adbi/files/2012.10.18.wp389.financial.globalization.emerging.countries.pdf)

Related works:
Working Paper: Financial Globalization in Emerging Countries: Diversification vs. Offshoring (2012)
Working Paper: Financial Globalization in Emerging Countries: Diversification vs. Offshoring (2012)
Working Paper: Financial Globalization in Emerging Countries: Diversification vs. Offshoring (2012)
Working Paper: Financial globalization in emerging countries: diversification vs. offshoring (2012)
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: https://EconPapers.repec.org/RePEc:ris:adbiwp:0389

Access Statistics for this paper

More papers in ADBI Working Papers from Asian Development Bank Institute Kasumigaseki Building 8F, 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo 100-6008, Japan. Contact information at EDIRC.
Bibliographic data for series maintained by ADB Institute ().