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International Financial Integration
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Author/Editor: |
Lane, Philip R. | Milesi-Ferretti, Gian Maria |
| Authorized for Distribution: |
April 1, 2003 |
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Electronic Access: |
Free Full Text (PDF file size is 301KB)
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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: In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns.
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Order a print copy
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Series: |
Working Paper No. 03/86 |
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Subject(s): |
International financial system | Financial assets | Investment |
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Author's keyword(s): |
International investment position
| rates of return
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Published: |
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April 1, 2003 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA0862003 |
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Pages: |
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44 |
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Price: |
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US$15.00 (Academic Rate: US$15.00 )
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