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Volume 56, Number 1, 2009
Last updated: March 2009
IMF Staff Papers

IMF Staff Papers is now available only by subscription or online at
Free online access to the journal is available only for IMF staff. Non-Fund readers may obtain subscription information at


Special Issue: Frontiers of Research on Financial Globalization

M. Ayhan Kose

Financial Globalization: A Reappraisal
M. Ayhan Kose, Eswar Prasad, Kenneth Rogoff, and Shang-Jin Wei

International Finance and Growth in Developing Countries: What Have We Learned?
Maurice Obstfeld

Why Did Financial Globalization Disappoint?
Dani Rodrik and Arvind Subramanian

Why We Shouldn't Turn Our Backs on Financial Globalization
Frederic S. Mishkin

Understanding Banking Sector Globalization
Linda S. Goldberg

Financial Globalization and Monetary Policy Discipline: A Survey with New Evidence from Financial Remoteness
Mark M. Spiegel

Measuring Financial Integration: A New Data Set
Martin Schindler