Author Description

This work provides a review of financial market integration as it affects industrialized economies. Each of its three sections cover: the role of historical-institutional developments; open economy macro-models for macro-theoretical principles; and macro-policy experiences in 15 OECD countries. By incorporating these three principal aspects of financial integration, the work describes the process of financial integration in the world economy and assesses the extent to which major theoretical policy prescriptions and predictions are supported by country experiences. In addition, the author provides a comprehensive and up-to-date bibliography of the relevant literature. This text should prove a valuable reference to academics and advanced undergraduate and postgraduate students taking courses in macroeconomics.