International Financial Integration, Sovereignty and Constraints on Macroeconomic Policies

Comment on “International Financial Integration”

Lane and Milesi-Ferretti gather data on assets and liabilities of 18 OECD countries. The data are classified by type of asset–debt instruments and equity instruments (either portfolio or foreign direct investment). To some extent the data allow them to classify changes in asset and liability positions that occur because of capital flows versus changes in valuation. With this data, Lane and Mile...

International Financial Integration and Entrepreneurship

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Researchers have stressed the role of new firm activity and economic dynamism on growth. Yet, the empirical effects of international capital mobility on entrepreneurial activity have received little attention in the literature albeit the ambiguous theoretical predictions a...

REFLECTION, EVALUATION, INTEGRATION The New Sovereignty in International Relations

The academic study of sovereignty is undergoing a mini-renaissance. Stimulated by criticisms of classical conceptions of sovereignty in systemic theories of politics, scholars returned to sovereignty as a topic of inquiry in the late 1980s and early 1990s. Their studies are finally bearing fruit. This essay focuses on the new conceptions of sovereignty that are emerging and (1) discusses the fu...

Accepted Manuscript International Financial Integration

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Financial Development and Financing Constraints : International