Does financial globalization have a benign or malignant effect on development and growth?
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Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
IGI Global
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Globalization with trade and financial linkages is beneficial for countries, as indicated by theory. The literature often finds that these are less clear for financial globalization. This chapter examines the association amongst financial globalization, growth, sectoral value added, and employment in emerging market and developing economies. Accordingly, financial globalization tends to lower growth, based on the main descriptive analysis. Financial globalization encourages industrialization in Asian economies while it leads to de-industrialization in African and Latin American countries. The services sector is positively associated with financial globalization in all regional country groupings. The analysis in this chapter indicates that financial globalization directs the allocation of resources across and within sectors. A strategic and systematic industrial policy that channels selective foreign savings into the finance of critical industrial projects also contributes to Sustainable Development Goals by minimizing the side effects of financial globalization. © 2023 by IGI Global. All rights reserved.
Açıklama
Anahtar Kelimeler
Kaynak
Sustainable Growth and Global Social Development in Competitive Economies
WoS Q Değeri
Scopus Q Değeri
N/A
