Globalization and Financial Markets

Session Submission Type: Created Panel

Session Description

Financial data offer a wealth of information that can be exploited for political analysis. The first paper proposes a novel measurement strategy to resolve aggregation problems with high frequency data that builds on the well-known capital asset pricing model (CAPM) and applies it to a number of applications. The second paper examines the impact of financial crises on income inequality and finds strong evidence that currency, banking,
inflation and debt crises increase inequality, particularly in the long run. The third paper explores whether firms' diversification discount (premium) varies by industry. Finally, the last paper examines how international competition in the financial market drives commercial banks to re-regulate themselves in the midst of economic downturns.

Sub Unit

• Division 16: International Political Economy

Individual Presentations

• Do Financial Crises Increase Income Inequality? - Cristina Bodea, Michigan State University; Christian Houle, Michigan State University; Hyunwoo Kim, Michigan state university

• Global Diversification and Political Risk: Discount or Premium? - Anne Jamison, Princeton University

Chair

• Dennis P. Quinn Georgetown University

Discussant

• Mark S. Manger University of Toronto