A Study of Financial Development in China based on Financial Globalization and Trade Friction

2019 ◽  
Vol 15 (4) ◽  
pp. 111-123
Author(s):  
Zhuqing Mao ◽  
Yeonggil Kim
Keyword(s):  
Financial Development ◽  
Financial Globalization ◽  
Trade Friction

On the Welfare Implications of Financial Globalization without Financial Development [with Comments]

2007 ◽  
Vol 2007 (1) ◽  
pp. 283-322
Author(s):  
Enrique G. Mendoza ◽  
Vincenzo Quadrini ◽  
José-Víctor Ríos-Rull ◽  
Giancarlo Corsetti ◽  
Memet Yorukoglu
Keyword(s):  
Financial Development ◽  
Financial Globalization ◽  
Welfare Implications

scholarly journals On the Welfare Implications of Financial Globalization without Financial Development

2007 ◽  
Author(s):  
Enrique Mendoza ◽  
Vincenzo Quadrini ◽  
José-Victor Ríos-Rull
Keyword(s):  
Financial Development ◽  
Financial Globalization ◽  
Welfare Implications

Financial development dynamic thresholds of financial globalization

2014 ◽  
Vol 41 (2) ◽  
pp. 166-195 ◽  
Author(s):  
Simplice Asongu
Keyword(s):  
Financial Development ◽  
Initial Conditions ◽  
Financial Globalization ◽  
Financial Systems ◽  
African Countries ◽  
Content Type ◽  
Financial Benefits ◽  
Financial Depth ◽  
Threshold Conditions ◽  
The Impact

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, the author tries to put some empirical structure on the concept of financial threshold conditions in order to give policymakers guidance on the Kose et al. and Henry hypothesis. Its object is to assess whether financial benefits of financial globalization are questionable until greater domestic financial development has taken place in African countries. The paper aims to discuss these issues. Design/methodology/approach – In framing the financial dimension in a more concrete and tractable manner, the author examines the concerns of how domestic financial initial dynamics of depth (economic and financial systems), efficiency (banking and financial systems), activity (banking and financial systems) and size, play out in the financial development benefits of financial globalization. The estimation approach consists of assessing the impact of financial globalization through out the conditional distributions of domestic financial development dynamics. Findings – The introduction of previously missing financial dimensions into the debate generates a number of important findings. Only financial initial (threshold) conditions of size are necessary to materialize the benefits of financial globalization. While financial depth only partially validates the hypothesis, dynamics of efficiency and activity (credit) do not confirm the hypothesis. Practical implications – Addressing the issue of surplus liquidity in African financial institutions could improve the benefits of financial size and potentially reverse the trends of financial efficiency and activity. Depending on the context of sampled countries, the appropriate role of policy has always been either to stem the tide of capital flows or encourage them. Policymakers who have been viewing their challenges exclusively from the latter perspective for benefits in growth (finance) might be getting the financial dynamics badly wrong. Originality/value – Blanket financial development policies may not reap the financial benefits of financial globalization until domestic financial dynamics of depth, efficiency, activity and size are critically considered. The introduction of the last three previously missing components in the literature sheds more light on the globalization-development nexus.

Financial Globalization and the Development of China's Economy

2021 ◽  
pp. 227-245
Author(s):  
Zhao Weili
Keyword(s):  
Economic Growth ◽  
New World ◽  
Development Trend ◽  
Financial Globalization ◽  
Financial Openness ◽  
Trade Friction ◽  
Reform And Opening Up ◽  
The Development Trend ◽  
Opening Up ◽  
China’S Economy

Since the outbreak of COVID-19, the official Brexit and the trade friction between Sino-US, anti-globalization become the focus of the world. After 40 years of reform and opening up, China's economy is facing new challenges under the new world situation. This chapter mainly focuses on how to promote China's economic growth under the background of financial globalization. Firstly, this chapter will introduce the development trend of the globalization and analyze the relation between financial globalization and economic growth. Secondly, this chapter will examine the state quo of China's financial openness and compare the change of China's de jure financial openness with the change of China's de facto financial openness. At last, this chapter will expound challenges faced by China's economy and put forward possible solutions to these challenges in terms of financial globalization.

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