In an essay format, Make the following paragraph sound better, "On the negative side, financial globalization can lead to increased vulnerability to external shocks and contagion effects. This is because financial crises can easily spread from one country to another due to financial interconnectedness. "The empirical literature on financial globalization is decisive that debt f lows generate the greatest risks from financial openness... similarly, short-term debt could serve as a useful commitment device to foster good macroeconomic policies, although debt would of course increase vulnerability to external shocks"" (Kose, Prasad, Rogoff, and Wei page 38)