Does the quote within the text fit? Moreover, financial globalization can promote financial market development and institutional quality in developing countries. As the authors state, "For developing countries, financial globalization can play a catalytic role in generating an array of collateral benefits that boost long-run growth and welfare" ( Kose, Prasad, Rogoff and Wei, page 49). It can also lead to discipline in macroeconomic policies, as countries with open capital accounts have less room for policy mistakes