Domestic Institutions and the Bypass Effect of Financial Globalization

This paper proposes a simple model to study the relationship between domestic institutions - financial system, corporate governance, and property rights protection - and patterns of international capital flows. It studies conditions under which financial globalization can be a substitute for reforms

本文构建了一个简约模型，用以探究国内制度——涵盖金融体系、公司治理与产权保护——与国际资本流动模式之间的关联，并分析了金融全球化可作为改革替代方案的相关条件。