Global financial integration has substantially increased in recent decades. Initially, it manifested itself in growing capital flows between developed countries. In response to the removal of capital controls, financial innovation and technological progress, financial integration has subsequently spread to emerging market countries. Gross and net capital flows between developed and emerging economies have increased. Financial integration has also been evident in frequently high correlations between asset yields or prices, particularly for certain asset classes such as high-yield corporate bonds and sovereign bonds and equities in developed and emerging markets.
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ReDIF This book is provided by Bank for International Settlements in its series BIS Papers with number
23 and published in 2005.
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Related research
The following chapters of this book are listed in IDEAS:
Palle Andersen & Ramon Moreno, 2005.
"Financial integration: an overview,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 1-8
Bank for International Settlements.
[Downloadable!]
Pedro Lacoste, 2005.
"International capital flows in Argentina,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 91-97
Bank for International Settlements.
[Downloadable!]
Afonso S Bevilaqua & Eduardo Loyo, 2005.
"Brazil’s stress test of inflation targeting,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 98-108
Bank for International Settlements.
[Downloadable!]
People’s Bank of China, 2005.
"Challenges to China’s monetary policy,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 124-27
Bank for International Settlements.
[Downloadable!]
Research Department, 2005.
"The recent appreciation of the Hong Kong dollar,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 150-55
Bank for International Settlements.
[Downloadable!]
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