Capital Market Integration and National Wealth
AbstractThis article examines the effects of increased capital market integration on Australia's external liabilities, total assets and national wealth using an inter-temporal approach. Stylised national balance sheets-then provide summary statements of how these aggregates changed following the unprecedented international financial liberalisation of the 1980s. Though the level of international debt was relatively high at the end of the 1980s compared to the 1970s, it was easily exceeded by growth in asset values, resulting in a sharp rise in wealth per head. Copyright 1993 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research.
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Bibliographic InfoArticle provided by The University of Melbourne, Melbourne Institute of Applied Economic and Social Research in its journal Australian Economic Review.
Volume (Year): 26 (1993)
Issue (Month): 2 ()
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- Anthony Makin & Wei Zhang & Grant Scobie, 2009.
"The contribution of foreign borrowing to the New Zealand economy,"
New Zealand Economic Papers,
Taylor and Francis Journals, vol. 43(3), pages 263-278.
- Anthony Makin & Wei Zhang & Grant Scobie, 2008. "The Contribution of Foreign Borrowing to the New Zealand Economy," Treasury Working Paper Series 08/03, New Zealand Treasury.
- Tony Makin, 1994. "Open economy measures of wealth and Hicksian national income," Open Economies Review, Springer, vol. 5(4), pages 361-369, October.
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