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Author/Editor:
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Mercereau, Benoît
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Publication Date:
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December 01, 2006
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Electronic Access:
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Free Full text
(PDF file size is 360KB).
Use the free
Adobe Acrobat Reader
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The results suggest that these welfare gains are large, which argues in favor of a progressive capital account liberalization across the region.
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Order a print copy
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Series:
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Working Paper No. 06/267
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Subject(s):
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Risk management | Australia | Asia and Pacific | Capital account liberalization | Foreign investment | Financial systems
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Author's Keyword(s):
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Risk-sharing | international diversification | regional integration |
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