An Empirical Examination of Capital Mobility in East Asia Emerging Markets
AbstractThis paper examines the evidence on saving-investment correlations and the covered interest parity conditions to gauge the degree of capital mobility in eight East Asia emerging markets. It is found that Hong Kong and Singapore have fairly mobile capital markets while other countries exhibit financial openness only to a certain extent. The results also indicate that financial integration has been broadly enhanced among these markets following their liberalizations. However, except for Hong Kong, the degree of capital mobility in all markets has not yet returned to the level before the Asian crisis.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Global Economic Review.
Volume (Year): 35 (2006)
Issue (Month): 1 ()
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