53801. Focal Points and International Financial Markets: The Maastricht Convergence Criteria
- Author:
- Layna Mosley
- Publication Date:
- 03-1998
- Content Type:
- Working Paper
- Institution:
- International Studies Association
- Abstract:
- A central research problem in comparative and international political economy concerns the implications of economic globalization - and more specifically, of international capital mobility - for national economic policy choice. A large body of recent literature suggests that governments are, at least to some extent, constrained by relatively high levels of international capital mobility (Garrett, 1998; O'Brien, 1992). At the very least, the asset allocation decisions of financial market participants affect interest rate levels, and, therefore, the cost of borrowing for governments and private actors.
- Topic:
- International Relations, Economics, and International Organization
- Political Geography:
- Europe