Financial Integration and Rebalancing in Asia
October 1, 2011
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Summary
The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.
Subject: Balance of payments, Exchange rates, Financial integration, Financial markets, Financial sector development, Foreign direct investment, Foreign exchange, Portfolio investment
Keywords: Asia, Asia and Pacific, Eastern Europe, Exchange rates, FDI flow, FDI inflow, FDI outflow, Financial Development, Financial Integration, Financial sector development, Foreign direct investment, GDP, Global, Portfolio investment, Rebalancing, savings-investment norm, WP
Pages:
31
Volume:
2011
DOI:
Issue:
243
Series:
Working Paper No. 2011/243
Stock No:
WPIEA2011243
ISBN:
9781463922641
ISSN:
1018-5941
