Financial Integration and Rebalancing in Asia
32 Pages Posted: 8 Nov 2011
Date Written: October 2011
Abstract
The paper shows that Asia’s degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.
Keywords: Asia, Economic integration, Capital inflows, Foreign investment, Exchange restrictions, Capital account liberalization, Economic growth
Suggested Citation: Suggested Citation
Pongsaparn, Runchana and Unteroberdoerster, Olaf, Financial Integration and Rebalancing in Asia (October 2011). IMF Working Paper No. 11/243, Available at SSRN: https://ssrn.com/abstract=1956390
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