lecture19(apr102008)

lecture19(apr102008) - Lecture 19 The Benefits and Costs of...

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Lecture 19 The Benefits and Costs of Globalization
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Lecture Organization Contradictions in “globalization”? Does financial globalization promote economic growth Globalization and the environment American public opinion on globalization Conclusion
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Contradictions in Globalization     Globalization has many inherent  contradictions including It integrates and disintegrates It fosters cooperation and conflict It engenders order and disorder It is divisive and unifying Some view it as a net positive, others as a  net negative So far, globalization has had  both  positive  and negative effects on global peace  
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Large increase in North-South capital flows  since mid-1980s “Pull” factors include: Stock market liberalizations Privatization “Push” factors include: Business cycles conditions, interest rates in industrial countries Emergence of institutional investors (mutual funds, pension funds, hedge funds) Demographic forces
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Effects on economic growth In theory, there are several channels through which financial integration can increase the growth rates in developing countries
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This note was uploaded on 05/04/2008 for the course POLS 30260 taught by Professor Muk during the Spring '08 term at Notre Dame.

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lecture19(apr102008) - Lecture 19 The Benefits and Costs of...

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