Asian Financial Integration: Trends and Interruptions
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Summary:
The paper compares trends in financial integration within Asia with those in industrialized countries and other regional groups. Declines in cross-country dispersion in equity returns and interest rates suggest increased Asian integration, with the process interrupted by crises and global volatility. Cross-border equity and bond holdings have also increased, but Asian countries remain considerably more financially integrated with major countries outside the region than with those within the region. The paper also discusses whether potential benefits of regional financial integration, such as increased risk-sharing and stability of the investor base, have materialized.
Series:
Working Paper No. 2011/004
Subject:
Financial crises Financial institutions Financial integration Financial markets Securities Stock markets Stocks
English
Publication Date:
January 1, 2011
ISBN/ISSN:
9781455211821/1018-5941
Stock No:
WPIEA2011004
Pages:
41
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