Asian Financial Integration : Trends and Interruptions

The 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.
Publication date: January 2011
ISBN: 9781455211821
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Economics- Macroeconomics , Economics / General , International - Economics , investors , bond , foreign investors , bonds , international investors , financial markets , stock market , international finance , foreign currency , financial stability , equity markets , mutual funds , foreign investment , financial assets , bond market , equity securities , portfoli

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