It is widely argued that countries can reap large gains from liberalizing their capital accounts if financial globalization is accompanied by the development of domestic institutions and financial markets. However, if liberalization does not lead to speedier financial development, globalization can result in adverse effects on distribution and welfare within and across countries. We use a multi...

Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (...

The purpose of research is focused on the insight into the future of Bitcoin on the financial situation, its implications and challenges. The problem of study is to investigate how to deal with a new type of digital currencies (such Bitcoin) that does not have a physical presence and there is no specific body to issue. Thus, this study aims to identify the nature of Bitcoin currency and what ar...

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