Chapter 9

Theoretical Perspectives, Overview

P. Bacchetta*, and P.R. Lane,

*University of Lausanne, Lausanne, Switzerland

CEPR, London, UK

Trinity College Dublin, Dublin, Ireland



From a macroeconomic perspective, the recent process of financial globalization has raised several important issues. First, net capital flows increased substantially, in ways that have not been fully consistent with existing theories of the late twentieth century. In particular, the phenomenon ...

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