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Indicators of regional financial integration

  • Agustín S. Bénétrix and Sébastien Wälti

This book chapter provides for a review of quantity-based and price-based indicators of regional financial integration. These measures should be easy to construct and interpret, based on publicly available data, and available for many countries and regions over time. The chapter discusses the underlying datasets in great detail and explains the construction of various indicators. Several applications, mostly using the process of European integration as a case study, show that regional financial integration has increased over the last decades, in particular in Europe after the introduction of the euro. However, there has been a parallel process of financial integration at the global level.

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Paper provided by IIIS in its series The Institute for International Integration Studies Discussion Paper Series with number iiisdp243.

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Date of creation: 13 Feb 2008
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Handle: RePEc:iis:dispap:iiisdp243
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  1. Romain Rancière & Aaron Tornell & Frank Westermann, 2002. "Crises and growth: A re-evaluation," Economics Working Papers 852, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2003.
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  16. Philip Lane & Gian Maria Milesi-Ferretti, 2001. "THE EXTERNAL WEALTH OF NATIONS: Measures of Foreign Assets and Liabilities For Industrial and Developing Countries," Trinity Economics Papers 20014, Trinity College Dublin, Department of Economics.
  17. Ashoka Mody & Abdul Abiad, 2003. "Financial Reform: What Shakes it? What Shapes it?," IMF Working Papers 03/70, International Monetary Fund.
  18. Fratzscher, M., 2001. "Financial Market Integration in Europe: On the Effects of EMU on Stock Markets," Papers 48, Quebec a Montreal - Recherche en gestion.
  19. Imbs, Jean, 2006. "The real effects of financial integration," Journal of International Economics, Elsevier, vol. 68(2), pages 296-324, March.
  20. Kpate ADJAOUTE & Jean-Pierre DANTHINE, 2004. "Equity Returns and Integration: Is Europe Changing?," FAME Research Paper Series rp117, International Center for Financial Asset Management and Engineering.
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