Financial Globalisation and the Crisis

Working Papers No 397
December 2012

The global financial crisis provides an important testing ground for the financial globalisation model. We ask three questions. First, did financial globalisation materially contribute to the origination of the global financial crisis? Second, once the crisis occurred, how did financial globalisation affect the incidence and propagation of the crisis across different countries? Third, how has financial globalisation affected the management of the crisis at national and international levels?

JEL classification: E60, F30

Keywords: financial globalization, global financial crisis