Mishkin and Rogoff both have ideas about the costs and benefits of financial globalization. Furthermore, you may be able to make some inferences about what Kling would think of financial globalization. Given that, consider the following questions: • Why, according to the authors, might an international institution succeed when domestic institutions cannot? • What would an international institution do in a crisis? • What benefits would an international institution provide to the global financial community? • What are the disadvantages of creating a strong international financial institution to help with financial crises?