I agree with Arvind and Dani here: It is quite puzzling that financial globalization still has as many strong advocates as it does among policymakers and their ilk: Arvind Subramanian and Dani Rodrik: The Puzzling Lure of Financial Globalization https://www.project-syndicate.org/commentary/financial-globalization-neoliberalism-discredited-by-arvind-subramanian-and-dani-rodrik-2019-09: "Although most of the intellectual consensus behind neoliberalism has collapsed, the idea that emerging markets should throw their borders open to foreign financial flows is still taken for granted in policymaking circles. Until that changes, the developing world will suffer from unnecessary volatility, periodic crises, and lost dynamism...


#noted #2019-11-26