Asian Financial Integration: Trends and Interruptions
AbstractThe 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.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/4.
Date of creation: 01 Jan 2011
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- Phurichai Rungcharoenkitkul, 2011. "Risk Sharing and Financial Contagion in Asia: An Asset Price Perspective," IMF Working Papers 11/242, International Monetary Fund.
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