Financial globalization has implications for domestic policy from "summary" of The Economics of Money, Banking and Financial Markets, eBook, Global Edition by Frederic S. Mishkin
Financial globalization refers to the increasing integration of financial markets across countries, allowing for the free flow of capital, investments, and financial services. This phenomenon has significant implications for domestic policy in various countries around the world.
One key implication of financial globalization for domestic policy is the increased interdependence of economies. As financial markets become more interconnected, economic shocks in one country can quickly spread to others through the financial system. This means that domestic policymakers need to consider the potential spillover effects of their policies on the global economy.
Furthermore, financial globalization can also lead to increased competition among countries to attract foreign investment. In order to remain competitive, governments may need to implement policies that promote a favorable business environment, such as reducing regulatory barriers and improving infrastructure. At the same time, policymakers must also ...
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