International Financial Integration and Economic Growth

Author/Editor:

Torsten M Sloek ; Hali J Edison ; Luca A Ricci ; Ross Levine

Publication Date:

August 1, 2002

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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

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. 02/145

Subject:

English

Publication Date:

August 1, 2002

ISBN/ISSN:

9781451856552/1018-5941

Stock No:

WPIEA1452002

Format:

Paper

Pages:

30

Please address any questions about this title to publications@imf.org