01818cas a2200253 a 4500 AALejournalIMF002479 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451978780 1018-5941 BD-DhAAL BD-DhAAL Goldsbrough, David. Globalization of Financial Markets and Implications for Pacific Basin Developing Countries / David Goldsbrough, Ranjit Teja. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the consequences of the growing interdependence of world financial markets for Pacific developing countries. Section I discusses trends in financial integration in the Pacific and the underlying movements in saving and investment. Section II seeks to quantify the increased capital mobility, in terms of rate of return differentials and the degree of correlation between savings and investment rates across countries. Section III focuses on policy implications of increasing integration, including the effectiveness of macroeconomic policy instruments, the usefulness of the current account as a target of policy, and the dangers of excessive taxation of financial intermediation. Mode of access: Internet Teja, Ranjit. IMF Working Papers; Working Paper ; No. 1991/034 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/034/001.1991.issue-034-en.xml IMF e-Library