Globalization of International Financial Markets: Causes and Consequences Book

	List of Figures
	List of Tables
	Acknowledgments
	Preface
1	Introduction	1
	Issues on Globalization	1
	Statement of Research Problem	6
	Purposes of the Study	7
	Research Questions	7
2	Review of Literature	9
	A Brief Review of the Conceptual Approaches	9
	Modern Theories of Determinants of International Capital Flows	13
	Flow Theory	14
	Portfolio Theory	17
	The Monetary Approach to the Balance of Payments	23
	Previous Empirical Analyses	30
	Overview of Literature	39
3	Research Methodology	51
	Theoretical Framework	51
	Data Selection	58
	Research Hypotheses and Exogenous Variable Selection	63
	Model Specifications	82
4	Empirical Findings	101
	Causes of Globalization of International Financial Markets	101
	Consequences of Globalization for Capital Flows	116
	Four Types of Short-term Capital Flows	162
5	Overview	182
App. A	Variable Creation and Identification	191
App. B	Statistical Tests	203
App. C	Descriptive Statistics for 121 Countries	217
App. D	Models with Country and Time Dummy Coefficients	235
	Bibliography	258