Răspuns:Financial globalization is an aggregate concept that refers to rising global linkages
through cross-border financial flows. Financial integration refers to an individual country’s
linkagesto international capital markets.
The recent wave of financial globalization since the mid-1980s has been marked by a
surge in capital flows among industrial countries and, more notably, between industrial and
developing countries. While these capital flows have been associated with high growth rates
in some developing countries, a number of countries have experienced periodic collapse in
growth rates and significant financial crises over the same period, crises that have exacted a
serious toll in terms of macroeconomic and social costs.
Keywords:financialintegration,financial globalisation, developingcountries,financialcrises.
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