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英文文献：Are financial benefits of financial globalization questionable until greater domestic financial development has taken place?-在国内金融得到更大发展之前，金融全球化带来的金融利益是否值得怀疑?
英文文献作者：Asongu Simplice
英文文献摘要：
Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give policymakers guidance on the Kose et al.(2011) and Henry(2007) hypothesis. Its object is to assess if financial benefits of financial globalization are questionable until greater domestic financial development has taken place in developing countries. Design/methodology/approach – In framing the financial dimension in a more concrete and tractable manner, we probe into the concerns of how domestic financial initial dynamics of depth(economic and financial systems), efficiency(banking and financial systems), activity (banking and financial systems) and size play-out in the financial development benefits of financial globalization. The estimation approach consists of assessing the impact of financial globalization through-out the conditional distributions of domestic financial development dynamics. Findings – The introduction of previously missing financial dimensions into the debate generates a number of important findings. Only financial initial(threshold) conditions in depth and size are necessary to materialize the benefits of financial globalization. Domestic dynamics of efficiency and activity(credit) do not confirm the hypothesis. Practical implications – Depending on the context of sampled countries, the appropriate role of policy has always been either to stem the tide of capital flows or encourage them. Policymakers who have been viewing their challenges exclusively from the later perspective for benefits in growth(finance) might be getting the financial dynamics badly wrong. Originality/value – Blanket financial development policies may not reap the financial benefits of financial globalization until domestic financial dynamics of depth, efficiency, activity and size are critically considered. The introduction of the last three previously missing components in the literature sheds more light on the globalization-development nexus.
目的——要实现金融全球化的好处，哪些金融初始条件是必要的，这一问题在文献中仍有争议。在本文中，我们试图对金融阈值条件的概念进行一些实证结构，以便为决策者对Kose et al.(2011)和Henry(2007)的假设提供指导。其目的是评估在发展中国家国内金融得到更大发展之前，金融全球化带来的金融利益是否值得怀疑。设计/方法/方法——在金融维度框架在一个更具体的和容易处理的方式,我们调查的担忧国内金融初始动态如何深度(经济和金融系统)、效率(银行和金融系统)、活动(银行和金融系统)和大小影响金融发展的金融全球化的好处。该估计方法包括通过国内金融发展动态的条件分布来评估金融全球化的影响。调查结果——在辩论中引入以前遗漏的财务方面，产生了许多重要的调查结果。只有金融初始(门槛)条件的深度和规模，才能实现金融全球化的利益。国内的效率和活动(信贷)动态并未证实这一假设。实际影响——取决于抽样国家的背景，政策的适当作用始终是遏制或鼓励资本流动的浪潮。那些一直只从增长(金融)的利益的后一种角度来看待他们面临的挑战的政策制定者，可能把金融动态搞错了。独创性/价值-全面金融发展政策可能无法收获金融全球化带来的金融利益，除非批判性地考虑国内金融的深度、效率、活动和规模等动态。文献中之前缺失的最后三个部分的介绍，使全球化与发展的关系更加清晰。
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