The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the s

In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However

Financial globalisation has been a dynamic element in recent years, with large capital flows to a number of emerging economies in Latin America and Asia often b

The market for financial derivatives is far and away the largest and most powerful market in the world, and it is growing exponentially. In 1970 the yearly valu

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empir