policy choices in a volatile world Caprio, Gerard. creator Honohan, Patrick. text bibliography dcu Washington, D.C Oxford New York World Bank Oxford University Press 2001 monographic eng 1 online resource (xv, 211, [1] pp) : illu; The overall impact of financial globalization on the domestic financial sector is profound. Liberalization of capital flows has effectively made domestic financial repression obsolete. The consequences have not been uniformly favorable. Following liberalization, domestic interest rates in developing countries have moved to a premium over industrial country rates, and can surge at times of currency speculation. Heightened interest rate and exchange rate volatility pose practical risk management difficulties for financial intermediaries and reinforce the need for appropriate infrastructures and incentives for risk containment, as well as for good macropolicies. On the other hand, the cost of equity capital has been reduced by allowing foreign investor access to local equity markets and allowing local firms to list abroad. Increased international flows through the equity markets have not been the major contributor to increased international sources of volatility. In addition to opening access to foreign-sourced financial services, more and more countries have been permitting foreign-owned banks and other financial firms to operate locally. Although this can represent a threat to domestic owners of financial firms, the drawback is outweighed by improved service quality. On all three fronts--debt, equity, and services--the costs and risks as well as the benefits of increased financial globalization. knowledges. Written by Gerard Caprio and Patrick Honohan (p. xiii). Includes bibliographical references (pages 197-212). English. Economic development Finance Finance Economic policy Finance, Public Financial institutions Expenditures, Public D�eveloppement �economique Finances Finances Politique �economique Finances publiques Institutions financi�eres D�epenses publiques finance financial institutions (institutions) POLITICAL SCIENCE Public Policy Economic Policy BUSINESS & ECONOMICS Government & Business BUSINESS & ECONOMICS Development Economic Development BUSINESS & ECONOMICS Development Business Development BUSINESS & ECONOMICS Structural Adjustment BUSINESS & ECONOMICS Development General Economic development Finance Economic policy Expenditures, Public Finance Finance, Public Financial institutions HD75 .F49 Caprio, Gerard. Washington, D.C. : World Bank ; Oxford ; New York : Oxford University Press, 2001 (DLC) 2001336719 0195216059 9780195216059 0585451389 9780585451381 1280087420 9781280087424 2001336719 5125281 IBRD PA Ref. No.2981 http://site.ebrary.com/id/5007391 https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=82820 https://archive.org/details/financeforgrowth0000capr http://www.myilibrary.com?id=8742 https://openlibrary.org/books/OL3995405M https://public.ebookcentral.proquest.com/choice/publicfullrecord.aspx?p=3050481 https://doi.org/10.1596/0-1952-1605-9 https://elibrary.worldbank.org/doi/abs/10.1596/0-1952-1605-9 https://openknowledge.worldbank.org/handle/10986/13895 http://VH7QX3XE2P.search.serialssolutions.com/?V=1.0&L=VH7QX3XE2P&S=JCs&C=TC0000086840&T=marc&tab=BOOKS https://ebookcentral.proquest.com/lib/uvic/detail.action?docID=3050481 https://elibrary.worldbank.org/doi/book/10.1596/0-1952-1605-9 http://site.ebrary.com/id/5007391 https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=82820 https://archive.org/details/financeforgrowth0000capr http://www.myilibrary.com?id=8742 https://openlibrary.org/books/OL3995405M https://public.ebookcentral.proquest.com/choice/publicfullrecord.aspx?p=3050481 https://doi.org/10.1596/0-1952-1605-9 https://elibrary.worldbank.org/doi/abs/10.1596/0-1952-1605-9 https://openknowledge.worldbank.org/handle/10986/13895 http://VH7QX3XE2P.search.serialssolutions.com/?V=1.0&L=VH7QX3XE2P&S=JCs&C=TC0000086840&T=marc&tab=BOOKS https://ebookcentral.proquest.com/lib/uvic/detail.action?docID=3050481 https://elibrary.worldbank.org/doi/book/10.1596/0-1952-1605-9 REDDC 010517 20240708141638.0 ocm70736227 eng