02021cas a2200229 a 4500 AALejournalIMF004743 230101c9999 xx r poo 0 0eng d 9781451953787 0145-1707 BD-DhAAL BD-DhAAL International Monetary Fund. External Relations Dept. Finance and Development, March 2007. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (59 pages) Finance and Development <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 The Two Faces of Financial Globalization looks at the phenomenon of rising cross-border financial flows-credited with boosting growth in developing countries but also blamed for the emerging market crises of the late 1980s and 1990s. The lead article puts together a framework for analyzing studies about the costs and benefits of financial globalization. Other articles look at the worldwide allocation of capital, the role of finance in macroeconomic management, and changes in the investor base. "Picture This" illustrates the growth and direction of capital flows. One guest contributor describes India's capital account liberalization, and another looks at how participants in international finance can cope with a fluid financial landscape. "People in Economics" profiles Guillermo Calvo; "Back to Basics" explains the difference between the purchasing power parity exchange rate and market exchange rates as measures of global economic growth; and "Country Focus" spotlights Australia. Mode of access: Internet Finance and Development; Finance and Development ; No. 0044/001 Full text available on IMF http://elibrary.imf.org/view/journals/022/0044/001/022.0044.issue-001-en.xml IMF e-Library