The impact of globalization of financial markets is a highly debated topic,  particularly in recent months when the issue of globalization and contagion of  financial distress has become a focus of intense policy debate. The papers in  this volume provide an up-to-date overview of the key issues in this  debate. While most of the contributions were prepared after the initial  outbreak of the current global turmoil and financial crisis, they identify the  relative strengths of the risk diversification and risk transmission processes  and examine the empirical evidence to date. The book considers the relative  roles of banks, nonbank financial institutions and capital markets in both  risk diversification and risk transmission. It then evaluates the current  status of crisis resolution in a global context, and speculates where to go  from here in terms of understanding, resolution, prevention and public policy.    Contents: Current State of Financial Globalization; Globalization and Systemic  Risk - Theory; Globalization and Systemic Risk - Nonbank Financial  Intermediaries; Globalization and Systemic Risk - Banks; Globalization and  Systemic Risk - Capital Markets; Crisis Resolution in a Global Context;  Where to Go from Here - Policy Panel.

Globalization And Systemic Risk (World Scientific Studies in International Economics) PDF

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