The Globalization of Finance and its Implications for Financial Stability: An Overview of the Issues

39 Pages Posted: 23 Aug 2007 Last revised: 8 Mar 2008

See all articles by Jorge A. Chan-Lau

Jorge A. Chan-Lau

ASEAN+3 Macroeconomic Research (AMRO); National University of Singapore (NUS) - Risk Management Institute

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Abstract

This paper provides a general overview of the impact of financial globalization on financial stability with a view to identifying sources of strength and potential vulnerabilities. Attention is focused on the benefits and risks for financial stability associated with changes in financial markets; the globalization of the banking system; and the role played by other important players in the global financial system such as pension funds, mutual funds, insurance companies, and hedge funds. The paper also examines risks to financial stability arising from current regulatory regimes.

Keywords: Financial globalization, financial stability, banks, pension funds, insurance, mutual funds, regulation

JEL Classification: F3, G2

Suggested Citation

Chan-Lau, Jorge Antonio, The Globalization of Finance and its Implications for Financial Stability: An Overview of the Issues. Available at SSRN: https://ssrn.com/abstract=1008837 or http://dx.doi.org/10.2139/ssrn.1008837

Jorge Antonio Chan-Lau (Contact Author)

ASEAN+3 Macroeconomic Research (AMRO) ( email )

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MAS Building
Singapore, 079117
Singapore

National University of Singapore (NUS) - Risk Management Institute ( email )

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Singapore, 119613
Singapore

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