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Financial integration and international risk spillovers

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  • Dongwon Lee

    (Department of Economics, University of California Riverside)

Abstract

Using static panel regression and dynamic local projection methods, we find that financial integration magnifies the transmission of global financial shocks to emerging market economies with fixed exchange rates, validating the insulation benefits of floating regimes and market segmentation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Dongwon Lee, 2023. "Financial integration and international risk spillovers," Working Papers 202301, University of California at Riverside, Department of Economics.
    • Handle: RePEc:ucr:wpaper:202301
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    References listed on IDEAS

    as
    1. Maurice Obstfeld & Jonathan D. Ostry & Mahvash S. Qureshi, 2019. "A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies," The Review of Economics and Statistics, MIT Press, vol. 101(2), pages 279-293, May.
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    6. Pukthuanthong, Kuntara & Roll, Richard, 2009. "Global market integration: An alternative measure and its application," Journal of Financial Economics, Elsevier, vol. 94(2), pages 214-232, November.
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    16. Kim, Kyungkeun & Lee, Dongwon, 2020. "Equity market integration and portfolio rebalancing," Journal of Banking & Finance, Elsevier, vol. 113(C).
    17. Mr. Luc Laeven & Mr. Fabian Valencia, 2018. "Systemic Banking Crises Revisited," IMF Working Papers 2018/206, International Monetary Fund.
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    More about this item

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance

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