International Financial Integration and Economic Growth
Electronic Access:
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Summary:
This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government corruption, and macroeconomic policies. Using a wide array of measures of international financial integration on 57 countries and an assortment of statistical methodologies, we are unable to reject the hypothesis that international financial integration does not accelerate economic growth even when controlling for particular economic, financial, institutional, and policy characteristics.
Series:
Working Paper No. 2002/145
Subject:
Balance of payments Capital account Capital flows Capital inflows Financial institutions Financial integration Financial markets Multilateral development institutions Stocks
English
Publication Date:
August 1, 2002
ISBN/ISSN:
9781451856552/1018-5941
Stock No:
WPIEA1452002
Pages:
30
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