Financial Globalization, Economic Growth, and the Crisis of 2007-09

"This is a careful and comprehensive survey of the literature of the last decade on growth and financial globalization. Secondarily, the book includes a useful explanation of some of the major policies and decisions made during the financial crisis. The book is thorough and very clearly written....It's potentially very useful for advanced undergraduate and graduate courses on financial globalization, particularly ones that stress economic modeling and empirics."---Kenneth S. Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University

"Cline's overview of financial globalization and economic growth...will be an invaluable resource for anyone doing research in this field. His painstaking gathering, analysis, and comments on the empirical work in this area will make this a must-have volume to all researchers."---Gerard Caprio, Jr., Chair, Center for Development Economics, and Professor of Economics, Williams College

"This book does an excellent job of summarizing the empirical literature on openness to international capital flows and economic growth....In light of the crisis of 2007-2009, there will clearly be a reassessment of the relationship between policies regarding financial globalization and economic outcomes in the short and long runs. This book provides a sound foundation on which that reassessment can flourish."---Ross Levine, James and Merryl Tisch Professor of Economics and Director, William R. Rhodes Center in International Economics & Finance, Brown University

William R. Cline has been a senior fellow at the Peterson Institute for International Economics since its inception in 1981 and has held a joint appointment at the Center for Global Development since 2002. During 1996-2001 while on leave from the Institute, he was deputy managing director and chief economist of the Institute of International Finance. His publications include Global Warming and Agriculture: Impact Estimates by Country (2007), The United States as a Debtor Nation (2005), Trade Policy and Global Poverty (2004), Trade and Income Distribution (1997), International Debt Reexamined (1995), International Economic Policy in the 1990s (1994), The Economics of Global Warming (1992), United States External Adjustment and the World Economy (1989), and International Debt: Systemic Risk and Policy Response (1984). He was senior fellow, Brookings Institution (1973-81); deputy director of development and trade research, Office of the Assistant Secretary for International Affairs, US Treasury Department (1971-73); Ford Foundation visiting professor in Brazil (1970-71); and lecturer and assistant professor of economics at Princeton University (1967-70).